Who is the party that signs a promissory note and is obligated to pay at maturity?

The correct answer is the maker of the note. In the context of a promissory note, the maker is the individual or entity that signs the note and thereby agrees to pay the specified amount to the payee at the designated maturity date. The maker's signature indicates their commitment to fulfill the financial obligation outlined in the note.

The role of the maker is essential as they carry the primary responsibility for repayment. Should they fail to meet this obligation, the payee can seek legal recourse against them to collect the owed amount.

While terms like obligor, endorser, and co-signer are related to financial agreements, they have distinct definitions and functions. The obligor generally refers to a party that is bound to fulfill an obligation but does not necessarily denote the one who signed the note. An endorser is someone who signs the note over to another party and may not have original repayment responsibility. A co-signer, on the other hand, agrees to back the debt but does not hold primary responsibility unless the maker defaults. Understanding these roles is crucial for navigating financial transactions involving promissory notes.