Cosigner A person who signs his or her name to a loan agreement, lease, or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt.
COSIGNER - A person who agrees to be liable for another person's debt, or for the performance of another's duty, liability, or obligation.
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Definition
: an amount that may or may not be owed depending on the outcome of a contingency (as a cosigner's default on a loan)
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contingent claim A claim that may be owed by the debtor under certain circumstances, e.g., where the debtor is a cosigner on another person's loan and that person fails to pay.
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