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cosigner |
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Cosigner A term referring to a person, other than the principal borrower, who signs for a loan. The cosigner(s) assumes equal liability for the loan. cosigner A person who signs a promissory note in such a capacity that he or she has equal and primary liability with another. Contrast with a guarantor, who is liable only if the original obligor defaults. A cosigner must list the promissory note as a liability on financial statements; a guarantor has only contingent liability which may never ripen into full liability. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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He was busy adding a cone over the ping-pong ball, talking about the apogee, cosign and drag, something the adults in the room knew nothing about. A wealthy person with an outstanding credit rating can cosign your loan, agreeing to be liable if you default. This is ludicrous since DNR is a physician order and patients do not have the legal right to write or cosign physician orders. |
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