Debt
/dɛt/
Definitions
- (n.) An obligation to pay or repay money borrowed from another party.
The company struggled to manage its mounting debt.
- (n.) A sum of money that is owed or due.
She paid off her credit card debt last year.
Forms
- debts
Related terms
See also
Commentary
Debt often entails specific terms and conditions; clarity in drafting repayment obligations is essential.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.