Definition of debt

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Debt (n.) An action at law to recover a certain specified sum of money alleged to be due.

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Debt :: Debt (n.) 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..
Nonsolvency :: Nonsolvency (n.) Inability to pay debts; insolvency.
Release :: Release (n.) Discharge from obligation or responsibility, as from debt, penalty, or claim of any kind; acquittance..
Embarrassment :: Embarrassment (n.) Difficulty or perplexity arising from the want of money to pay debts.
Hypothecation :: Hypothecation (n.) The act or contract by which property is hypothecated; a right which a creditor has in or to the property of his debtor, in virtue of which he may cause it to be sold and the price appropriated in payment of his debt. This is a right in the thing, or jus in re..
Quittance :: Quittance (v. t.) Discharge from a debt or an obligation; acquittance.
Residue :: Residue (n.) That part of a testeator's estate wwhich is not disposed of in his will by particular and special legacies and devises, and which remains after payment of debts and legacies..
Discuss :: Discuss (v. t.) To examine or search thoroughly; to exhaust a remedy against, as against a principal debtor before proceeding against the surety..
Empower :: Empower (v. t.) To give authority to; to delegate power to; to commission; to authorize (having commonly a legal force); as, the Supreme Court is empowered to try and decide cases, civil or criminal; the attorney is empowered to sign an acquittance, and discharge the debtor..
Reckon :: Reckon (v. i.) To come to an accounting; to make up accounts; to settle; to examine and strike the balance of debt and credit; to adjust relations of desert or penalty.
Pay :: Pay (v. i.) To give a recompense; to make payment, requital, or satisfaction; to discharge a debt..
Insolvency :: Insolvency (n.) The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business; as, a merchant's insolvency..
Surf :: Suretyship (n.) The state of being surety; the obligation of a person to answer for the debt, default, or miscarriage of another..
Garnishee :: Garnishee (n.) One who is garnished; a person upon whom garnishment has been served in a suit by a creditor against a debtor, such person holding property belonging to the debtor, or owing him money..
Mortgage :: Mortgage (n.) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made..
Confession :: Confession (n.) Acknowledgment; avowal, especially in a matter pertaining to one's self; the admission of a debt, obligation, or crime..
Seguestration :: Seguestration (n.) A kind of execution for a rent, as in the case of a beneficed clerk, of the profits of a benefice, till he shall have satisfied some debt established by decree; the gathering up of the fruits of a benefice during a vacancy, for the use of the next incumbent; the disposing of the goods, by the ordinary, of one who is dead, whose estate no man will meddle with..
Oblige :: Oblige (v. t.) To bind by some favor rendered; to place under a debt; hence, to do a favor to; to please; to gratify; to accommodate..
Debit :: Debit (v. t.) To enter on the debtor (Dr.) side of an account; as, to debit the amount of goods sold..
Indebted :: Indebted (a.) Brought into debt; being under obligation; held to payment or requital; beholden.
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