Definitions of debt

  1. the state of owing something (especially money); "he is badly in debt" Scrapingweb Dictionary DB
  2. an obligation to pay or do something Scrapingweb Dictionary DB
  3. money or goods or services owed by one person to another Scrapingweb Dictionary DB
  4. That which is due from one person to another, whether money, goods, or services; that which one person is bound to pay to another, or to perform for his benefit; thing owed; obligation; liability. Webster Dictionary DB
  5. A duty neglected or violated; a fault; a sin; a trespass. Webster Dictionary DB
  6. An action at law to recover a certain specified sum of money alleged to be due. Webster Dictionary DB
  7. That which is due from one person to another; obligation; as, an unpaid bill is a debt; sin; as, "Forgive us our debts.". The Winston Simplified Dictionary. By William Dodge Lewis, Edgar Arthur Singer. Published 1919.
  8. What one owes to another: what one becomes liable to do or suffer. The american dictionary of the english language. By Daniel Lyons. Published 1899.
  9. Anything owed or due. The Clarendon dictionary. By William Hand Browne, Samuel Stehman Haldeman. Published 1894.
  10. That which one owes; an obligation; indebtedness; trespass. The Concise Standard Dictionary of the English Language. By James Champlin Fernald. Published 1919.
  11. That which is due from one person to another; that which any one is obliged to do or to suffer; a failure in duty. An action of debt, an action to recover a sum of money by legal process. The debt of nature, death. Nuttall's Standard dictionary of the English language. By Nuttall, P.Austin. Published 1914.
  12. Anything due from one person to another; what one is bound or obliged to pay; obligation; liability; sin; trespass: debt of nature, death. Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
  13. The Mosaic law encouraged the practice of lending ( Deuteronomy 15:7 ; Psalms 37:26 ; Matthew 5:42 ); but it forbade the exaction of interest except from foreigners. Usury was strongly condemned ( Proverbs 28:8 ; Ezekiel 18:8 Ezekiel 18:13 Ezekiel 18:17 ; 22:12 ; Psalms 15:5 ). On the Sabbatical year all pecuniary obligations were cancelled ( Deuteronomy 15:1-11 ). These regulations prevented the accumulation of debt. biblestudytools.com
  14. A debt is a sum of money due by contract. It is most frequently due by a certain and express agreement, which fixes the amount, independent of extrinsic circumstances. But it is not essential that the contract should be express, or that it should fix the precise amount to be paid. U. S. v. Colt, 1 Pet. C C. 145, Fed. Cas. No. 14.S39. Standing alone, the word “debt” is as applicable to a sum of money which lias been promised at a future day. as to a sum of money now due and payable. To distinguish between the two. It may be said of the former that it is a debt owing, and of the latter that it is a debt due. Whether a claim or demand is a debt or not is in no respect determined by a reference to the time of payment. A sum of money which is certainly and in all events payable is a debt, without regard to the fact whether it be payable now or at a future time. A sum payable upon a contingency, however, is not a debt, or does not become a debt until the contingency has happened. People v. Arguello. 37 Cal. 524. The word “debt” is of large import, including not only debts of record, or judgments,and debts by specialty, but also obligations arising under simple contract, to a very wide extent; and in its popular sense includes all that is due to a man under any form of obligation or promise. Gray v. Bennett, 3 Mete. (Mass.) 522, 520. “Debt” has been differently defined, owing to the different subject-matter of the statutes in which it has been used. Ordinarily, it imports a sum of money arising upon a contract, express or implied. In its more general sense, it is defined to be that which is due from one person to another, whether money, goods, or services; that which one person is bound to pay or perform to another. Under the legal-tender statutes, it seems to import any obligation by contract, express or implied, which may be discharged by money through the voluntary action of the party bound. Wherever he may be at liberty to perform his obligation by the payment of a specific sum of money, the party owing the obligation is subject to what, in these statutes, is termed “debt.” Kimpton v. Bronson, 45 Barb. (N. Y.) 618. The word is sometimes used to denote 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, etc. Synonyms. The term “demand” is of much broader import than “debt,” and embraces rights of action belonging to the debtor beyond those which could appropriately be called “debts.” In this respect the term “demand” Is one of very extensive import. In re Denny, 2 Hill (N. Y.) 223. The words “debt” and “liability” are not synonymous. As applied to the pecuniary relations of parties, liability is a term of broader significance than debt. The legal acceptation of debt is a sum of money due by certain and express agreement. Liability is responsibility; the state of one who is bound in law and justice to do something which may be enforced by action. This liability may arise from contracts either express or implied, or in consequence of torts committed. McElfresh v. Kirkendall. 36 Iowa, 226. “Debt” is not exactly synonymous with “duty.” A debt is a legal liability to pay a specific sum of money; a duty is a legal obligation to perform some act. Allen v. Dickson, Minor (Ala.) 120. In practice. The name of a common-law action, which lies to recover a certain specific sum of money, or a sum that can readily be reduced to a certainty. 3 Bl. Comm. 154; 3 Steph. Comm. 461; 1 Tidd. Pr. 3. It is said to lie in the debet and detinet, (when it is stated that the defendant owes and detains.) or in the detinet, (when it is stated merely that he detains.) Debt in the detinet for goods differs from detinue, because it is not essential in this action, as in detinue, that the specific property in the goods should have been vested in the plaintiff at the time the action is brought. Dyer, 246. thelawdictionary.org
  15. det, n. what one owes to another: what one becomes liable to do or suffer: a state of obligation or indebtedness: a duty: (B.) a sin.--p.adj. DEBT'ED (Shak.), indebted, obliged to.--ns. DEBT'EE, a creditor; DEBT'OR, one who owes a debt: the side of an account on which debts are charged.--DEBT OF HONOUR, a debt not recognised by law, but binding in honour--esp. gambling and betting debts; DEBT OF NATURE, death.--ACTIVE DEBT, a debt due to one, as opposed to Passive debt, a debt one owes; FLOATING DEBT, miscellaneous public debt, like exchequer and treasury bills, as opposed to Funded debt, that which has been converted into perpetual annuities like consols in Britain.--IN ONE'S DEBT, under a pecuniary obligation to one. [O. Fr. dette--L. debitum, deb[=e]re, to owe.] gutenberg.org/ebooks/37683
  16. Money, goods, or service, owing (d. of honour, not legally recoverable, esp. of sum lost in gambling; d. of nature, death; National D., sum owed by State to persons who have advanced money to it; funded d., the part of this converted into fund of which interest only is to be paid; floating d., part of it repayable on demand, or at stated time; small d., of limited amount recoverable in County Court); being under obligation to pay something (in, out of, get into, d. or person\'s d.). [Middle English] Concise Oxford Dictionary
  17. d.-collector, one whose business it is to collect dd. for creditors. Concise Oxford Dictionary
  18. At the installation of the new Government in 1789, the foreign debt amounted to $13,000,000, the domestic debt to $42,000,000, and Hamilton also persuaded the Congress to assume State debts contracted in the Revolution to the amount of $21,500,000 more. It was then funded. In 1796 it amounted in the total to $83,800,000. It then began to be reduced and, though raised by the expenditures for the Louisiana purchase, was brought down to $45,200,000 in 1812 by the skillful management of Hamilton and Gallatin successively. The War of 1812 brought it up to $127,000,000 in 1816, but the abounding prosperity of the country enabled the Government to pay it all off, virtually, by 1835. It then grew again. The Mexican War brought it up from $15,600,000 to $68,300,000, whence it again declined to $28,700,000 in 1857. The Civil War required not only heavy and almost indiscriminate taxation but enormous loans, so that the debt on the thirty-first of August, 1865, amounted to $2,845,000,000. Successful efforts to refund at lower rates of interest, together with the prosperity of the country and the great revenue from customs, enabled the debt to be reduced to $2,000,000,000 in 1878, if cash in the Treasury be subtracted, to $1,500,000,000 in 1883, and to $1,000,000,000 in 1889. On November 1, 1893, the total debt, less cash in the Treasury, amounted to $820,109,339. Dictionary of United States history
  19. n. [French] Thing owed;—that which is due from one person to another, whether money, goods, or services; obligation; liability;—a fault; a crime; a trespass. Cabinet Dictionary
  20. That which one man owes to another; that which any one is obliged to do or suffer. Complete Dictionary

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