promisor

noun

  • Contract Law

Definitions of promisor

  • someone who makes a promise, especially concerning the terms of a contract or other agreement

    If a contractual promise is broken, the promisor is liable (=legally responsible) for breach of contract.

Phrase Bank for promisor

  • For and in consideration of the sum of $50,000, the receipt and sufficiency of which are acknowledged by Promisor, Promisor agrees that …

  • Promisor shall pay all costs and expenses, including reasonable attorneys’ fees, incurred by the holder hereof in the collection of this Note.

  • If Promisor has paid any amount of Negative Cash Flow for such period with respect to the Travelodge Property, Promisor shall promptly send Promisee a written …

  • FOR VALUE RECEIVED, John Curd (the “Promisor”) hereby unconditionally promises to …

  • It would not normally require measures that would be harmful to the promisor’s commercial interests.

  • These promises have the practical effect of allocating risk between the parties by exposing the promisor to liability in favour of the promisee.

  • A promise, on the other hand, is an expression of intention by the promisor to render some performance in the future.

Additional Notes for promisor

  • Article: The use of the term promisor in Legal English

    A promisor is a party (=a person or other legal entity) that makes a promise. The opposite of course the promise (the party to whom a promise is made).

    The use of promisor and promisee are used extensively in the area of contract law. The or and ee construction makes it easier for lawyers and judges to concentrate on the abstract formulation of the law while incorporating the bare facts needed to access how the law should be applied. In other words, the names of the parties involved in a contract dispute are not important. What is important is what action they take within the facts to be analyzed under the law. Adding additional facts to the analysis may only confuse the basic application of the law.

    Of course, the use of the construction can also be used simply to explain the law or a particular aspect of the law an example of such being a description of consideration in contract: “The doctrine of consideration provides that a promise will bind the promisor only if it is given as the price for another’s promise or as the price for an action which involves a detriment to the promisee.”