- debt
-
debt n [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe]1: something owed: asa: a specific sum of money or a performance due another esp. by agreement (as a loan agreement)to pay the debt s...of the United States — U.S. Constitution art. Ia debt for alimonyb: an obligation to pay or perform on another's claim◇ It is often up to the courts to decide what is or is not a debt under various laws. Courts disagree whether criminal restitution is a debt under the Bankruptcy Code. The historical practice of imprisoning debtors for nonpayment is no longer used.antecedent debt: debt that is incurred prior to a property transfer paying or securing the debt compare preferencebad debt: a debt that cannot be collected◇ An income tax deduction is allowed for bad debts.consumer debt: debt that is incurred by an individual primarily for the purchase of consumer goods or services compare consumer creditjudgment debt: a debt established by a judgment and enforceable by a legal process (as an execution of judgment or attachment)c: a state of owingd: the aggregate of money owedthe national debt2: the common-law action for the recovery of a specified sum of money or a sum that can be simply and certainly determined – called also action of debt, writ of debt; compare assumpsit, covenant
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- debt
-
I
noun
account outstanding, account owing, aes alienum, amount due, amount owing, arrearage, arrears, balance owed, balance to pay, bill, debit, deferred payment, deficit, encumbrance, indebtedness, liability, money due, money owed, nonpayment, obligation, sum owed
associated concepts: action for debt, admission of debt, antecedent debt, bad debt, bad debt loss, bona fide debt, bonded debt, book debt, business debt, common debt, contingent debt, continuing debt, contract debts, corporate debt, creating a debt, creation of a debt, debt against estate, debt arising on contract, debt by contract, debt by loan, debt discharged, debt due, debt founded on contract, debt incurred, debt instruments, debt not yet due, debt of another, debt of bankrupt, debt of municipality, debt of record, debt owed, debt provable in bankruptcy, debt which is to become due, debtor and creditor, debts of deceased, dischargeable debt, equitable debt, evidence of debt, evidence of indebtedness, existing debt, fiduciary debt, fixed debt, floating debt, fraudulent debt, funded debt, holder of debt, imprisonment for debt, inability to pay debts as they mature, just debt, lawful debt, liquidated debt, moral debt, mutual debts, nonpayment of debt, partnership debt, pecuniary debt, preexisting debt, promise to pay, provable debt, public debt, public debt limitations, recovery of debt, secured debt, simple debt, situs of indebtedness, unliquidated debt, unsecured debt, worthless debt
foreign phrases:
- Debita sequuntur personam debitoris. — Debts follow the person of the debtor- Debitor non praesumitur donare. — A debtor is not presumed to make debts- Reprobata pecunia liberat solventem. — Money refused releases the debtor.- Nemo potest sibi debere. — No one can be indebted to himself- Incendium aere alieno non exult debltorem. — A fire does not discharge a debtor from his debt.- Id solum nostrum quod debitis deductis nostrum est — That only is ours which remains to us after deduction of our debts- Chirographum non extans praesumitur sotutum. — An evidence of debt not existing is presumed to have been paid- Chirographum apud debltorem repertum praesumitur solutum. — An evidence of debt found in the debtor's hands is presumed to be paid- Annua nee debitum fudex non separat ipsum. — A judge does not divide annuities nor debt- In satisfactionibus non permittitur amplius fieri quam semel factum est. — In settlements more must not be received than was received once for all- Minus solvit, qui tardius solvit; nam et tempore minus solvitur. — He does not pay who pays too late, for, from the lapse of time, he is judged not to pay- In omnibus obligationibus in quibus dies non ponitur, praesenti die debetur. — In all obligations in which no time is fixed for their fulfillment, the obligation is due immediatelyII index arrears, cloud (incumbrance), debit, delinquency (shortage), due, duty (obligation), liability, lien, obligation (duty), obligation (liability)
Burton's Legal Thesaurus. William C. Burton. 2006
- debt
-
a sum of money owed by one person to another. Debts are of various kinds, according to their origin; thus, for example, judgment debts or contract debts. Contract debts may be either speciality debts or simple contract debts: speciality debts are those created by deed (e.g. in a covenant), while simple contract debts are all debts not secured by record (e.g. a judgment debt) or deed. The importance of the distinction is that the limitation period for the former is 12 years while actions on simple contracts must be brought within six years: Limitation Act 1980 Sections 5 and8. Debts may be secured or unsecured: secured debts are those over which the creditor has some security in addition to the personal liability of the debtor (as in a mortgage, charge or lien). So, a secured creditor may proceed against the assets or promises (in the case of a guarantee) that constitute his security; an unsecured creditor must prove with the general creditors in the debtor's insolvency. Debts provable in bankruptcy are preferential debts when they are payable in full before all other debts. These include employees' wages and salaries, rates and taxes, and employer's national insurance contributions.After the making of a bankruptcy order, no person who is a creditor of the bankrupt in respect of a debt provable in the bankruptcy has any remedy against the property or person of the bankrupt in respect of that debt, or may, before the discharge of the bankrupt, commence any action or other legal proceedings against the bankrupt except with the leave of the court and on such terms as the court may impose. In place of these rights, the creditors acquire a right to share proportionally in the distribution by the trustee of the bankrupt's estate of the bankrupt's assets that became vested in the trustee.
Collins dictionary of law. W. J. Stewart. 2001.
- debt
-
1) An amount owed by one person or entity to another.2) A cause of action in a lawsuit to recover a set amount owed by another person or entity.3) The total of everything a person or entity owes to all creditors. For example, everything the United States government owes is collectively called "the national debt," and that amount is made up of a number of debts.Category: Bankruptcy, Foreclosure & Debt → Debt & Collection Agencies
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- debt
-
n. A specific sum of money due as a result of a written or verbal agreement or by operation of law.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- debt
-
A sum of money that is owed or due to be paid because of an express agreement; a specified sum of money that one person is obligated to pay and that another has the legal right to collect or receive.A fixed and certain obligation to pay money or some other valuable thing or things, either in the present or in the future. In a still more general sense, that which is due from one person to another, whether money, goods, or services. In a broad sense, any duty to respond to another in money, labor, or service; it may even mean a moral or honorary obligation, unenforceable by legal action. Also, sometimes an aggregate of separate debts, or the total sum of the existing claims against a person or company. Thus we speak of the "national debt," the "bonded debt" of a corporation, and so on.
Dictionary from West's Encyclopedia of American Law. 2005.
- debt
-
A sum of money that is owed or due to be paid because of an express agreement; a specified sum of money that one person is obligated to pay and that another has the legal right to collect or receive.A fixed and certain obligation to pay money or some other valuable thing or things, either in the present or in the future. In a still more general sense, that which is due from one person to another, whether money, goods, or services. In a broad sense, any duty to respond to another in money, labor, or service; it may even mean a moral or honorary obligation, unenforceable by legal action. Also, sometimes an aggregate of separate debts, or the total sum of the existing claims against a person or company. Thus we speak of the "national debt," the "bonded debt" of a corporation, and so on.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- debt
-
n.1) a sum of money due to another.2) obligation to deliver particular goods or perform certain acts according to an agreement, such as returning a favor.3) a cause of action in a lawsuit for a particular amount owed.See also: common counts
Law dictionary. EdwART. 2013.
