Legal Definitions - prime maker

A prime maker is a person who is primarily responsible for a promissory note or other negotiable instrument. This means that if the note is not paid, the prime maker is the one who is legally obligated to pay it.

For example, if John signs a promissory note to borrow money from a bank, and Jane co-signs as a guarantor, John is the prime maker because he is the one who is primarily responsible for paying back the loan. If John defaults on the loan, the bank can go after him for payment before going after Jane.

Another example is if a company issues bonds to raise money, the company is the prime maker because it is primarily responsible for paying back the bondholders.

Overall, a prime maker is the person or entity who is legally obligated to pay back a debt or fulfill a financial obligation.