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 third party to a loan who provides a guarantee that a loan will be repaid. The guarantee by the cosigner reduces the risk that the lender will lose the money he/she has distributed to the borrower. The cosigner signs an agreement with the lender stating that if the borrower fails to repay the loan, the cosigner will assume legal liability for it. A cosigner may be an institution, but is often a relative or friend of the borrower, especially for personal loans. Persons with little or poor credit history sometimes cannot receive a loan without a cosigner. See also: Surety.

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.

References in periodicals archive ?
To explain these conclusions, in the next four sections of this article I analyze how the interaction of structure, fabula, and theme creates investment stories; how narrator personae transform these stories into discourses; how embedded subgenres engage readers as comakers of these discourses; and how visual symbolism complements verbal expression to make these discourses into concrete annual report texts.
While a few researchers (e.g., Locke, 1996) have viewed customers as comakers of employee displayed emotions rather than inactive recipients, it would be valuable to test if there is indeed a reciprocal causality between displayed positive emotions and customer behaviors.
This is an aesthetic of generosity that regards art audiences as comakers of meaning.