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Business Glossary

Business Definition for: comaker

Dictionary of Banking Terms

comaker

person who signs a borrower's promissory note to give a loan additional security or to enhance the quality of a loan. A comaker has a liability similar to an endorser or guarantor. although in a strict legal sense a guarantor or endorser cannot be compelled to honor the note until certain conditions are met.

Referring Terms:

accommodation endorser
comortgagor
cosigner
start-up financing

Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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