Debts
/ˈdɛts/
Definitions
- (n.) Monetary obligations or sums of money that one party owes to another.
The borrower failed to repay his debts on time.
Forms
- debt
Related terms
See also
Commentary
In legal drafting, specify the type and terms of debts clearly to distinguish secured, unsecured, and contingent debts.
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.