DEBT

Debt

A debt is an obligation owed by one party to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.

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debt

Noun

  1. An action, state of mind, or object one has an obligation to perform for another, adopt toward another, or give to another.
  2. The state or condition of owing something to another.
  3. Money that one person or entity owes or is required to pay to another, generally as a result of a loan or other financial transaction.
  4. An action at law to recover a certain specified sum of money alleged to be due.


The above text is a snippet from Wiktionary: debt
and as such is available under the Creative Commons Attribution/Share-Alike License.

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