Florida Bail Bonds Practice Exam

Who is referred to as the party that owes the obligation?

1. Obligee

2. Principal

3. Surety

4. Obligor

The correct answer is: Obligor

The term "obligor" refers to the party that owes an obligation, which is the correct understanding of the concept in the context of bail bonds and legal agreements. In a bail bonds scenario, the obligor is the individual who is under an obligation, such as the responsibility to return to court after being released on bail or to fulfill the terms outlined in the bail agreement. In contrast, the obligee is the party to whom the obligation is owed. The principal often refers to the primary party involved in a transaction or agreement, while the surety acts as a guarantor, ensuring that the obligor meets their obligations, often by providing collateral or assurance to the obligee. Thus, the distinction lies in the roles played in the obligation, with the obligor specifically denoting the one who must fulfill the duty.