The party bound is still called the obligor, the party in whose favour the bond is made the obligee.
American law is in general agreement with English, except in the case of Louisiana, where the terms obligor and obligee are used in as wide a sense as the debitor and creditor of Roman law.
3522 of the Louisiana civil code obligor or debtor means the person who has engaged to perform some obligation, obligee or creditor the person in favour of whom some obligation is contracted, whether such obligation be to pay money or to do or not to do something.
The word usage examples above have been gathered from various sources to reflect current and historial usage. They do not represent the opinions of YourDictionary.com.