Definition of debtor accounting terms invoiceberry. Debt book definition is an account book in which a record of debts is entered. So there should not be any confusion between these terms. If an actor says something in a stage whisper, it is intended to be heard by the people watching the play, and the other actors on the stage pretend not to hear it. It is not illegal to have debt, and there are many agreements between the creditor and debtor for repayment.
If a bank lent you money, the bank is the creditor and you are the debtor. Debtor definition for englishlanguage learners from. If you are a debtor it is best to pay off what you owe quickly so you dont have an adverse reaction to your credit score. In bankruptcy law, a person who files a voluntary petition or person against whom an involuntary petition is filed. A debtor can be called a borrower if the debt is in the form of a loan from a bank or other. Debtor is a term used in the accounting world to refer to a party that owes money to a company or individual. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. Debtor and creditor financial definition of debtor and. Much case law exists to distinguish or capture a codebtor from an indemnifier, a guarantor, a bond holder and an insurer. As the fledgling company sank further into financial ruin, its debtor status was very obvious by the fact that so many bills were behind it.
Debtor means the individual receiving credit under a consumer credit agreement or the person to whom his rights and duties under the agreement have passed by assignment or operation of law. Much case law exists to distinguish or capture a co debtor from an indemnifier, a guarantor, a bond holder and an insurer. Business law touches everyday lives through every contractual dealing undertaken. If you or your business has one or more debtors then, in accounting terms, you a creditor. Indianapolis star, the coronavirus pandemic is hitting landlords and smallbusiness owners.
Such a business may continue to operate its business under chapter 11 bankruptcy protection. The emperor isaac angelus had not only the old grudge of all eastern 1 the economic motive for taking the cross was strengthened by the papal regulations in favour of debtors who joined the crusade in england the lessons of experience have shown that the abuses of this business are best regulated by a system of registration coupled with. As such they may be written or oral, and to be binding. Debtor and creditor financial definition of debtor and creditor. Debtor legal definition of debtor legal dictionary. In very general terms, a debtor is anyone who owes money to a creditor. A particular business transaction has two parties involved creditor and debtor. Certain it is that this idea is associated with the old testament idea of the word, at least in the later period of old testament history. Glossary of terminology and definitions for business and management. To put it simply, the debtorcreditor relationship is complementary to the customersupplier relationship. Debtor article about debtor by the free dictionary. The concept can apply to individual transactions, so that someone could be a debtor in regard to a specific supplier invoice, while being a creditor in relation to its own billings to customers. A debtor is a person, company, or other entity that owes money. Bond the financial meaning of a bond is normally a debtinvestment instrument.
Debtor a person, company, or other organization that owes money to another individual, company, or organization. A debtor is an individual or business that owes money to another individual or business. A creditor is the one who lends the money whereas a debtor is the one who owes the money to the creditor. A person, company, or other organization that owes money to another individual, company, or organization. The party to whom the money is owed might be a supplier, bank, or other lender who is referred to as the creditor definition of creditor. A debtor is a person or entity legally required to provide a payment, service or other benefit to another person or entity the obligee. Definition of debtor debtor means a borrower of money or a purchaser or lessee of goods, services. Debtor means each of congoleum, congoleum sales, inc. Dictionary of business and management oxford reference. A debtor also, debitor is an entity that owes a debt to another entity. Debtor financial definition of debtor financial dictionary. Debt is one of the most common forms of financing businesses use to grow and maintain their operations. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower, and if the debt is in the.
What is the distinction between debtor and creditor. When judgment has been obtained it may be enforced either by process under certain conditions against the person of the debtor, by an execution against the debtor s property, or, with the assistance of the court, by attaching any debt owed to the debtor by a third person. Debt book definition of debt book by merriamwebster. Companies that issue bonds are perhaps the most wellknown debtors. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower, and if the debt is in the form of securities such as bonds the debtor is referred to as an issuer. Mutual fund a mutual fund is a type of investment vehicle consisting of a portfolio of stocks. The definition of a debtor is someone who owes money or an obligation to a creditor. A debtor is a person, company, organization, country, or any entity that owes money. Debtor definition of debtor by the free dictionary. A debtor is a person or enterprise that owes money to another party. Change your default dictionary to american english. The entity may be an individual, a firm, a government, a company or other legal person. The difference between a debtor and a creditor accountingtools.
Debtors can be entities, companies or people of a legal nature that owe money to someone else such as your business for example. A person or business acquires debt in order to use the funds for operating needs or capital. You can complete the definition of debtor given by the english definition dictionary with other english dictionaries. Trade debtor definition in the cambridge english dictionary. One who owes a debt or the performance of an obligation to another, who is called the creditor. Debtor definition and meaning collins english dictionary. Debtor noun definition and synonyms macmillan dictionary. Debtors definition in the cambridge english dictionary. It is difficult nowadays to think of debt without associating with it the idea of interest, and even usury. The party to whom the money is owed might be a supplier, bank, or other lender who is referred to as the creditor. Book debt meaning in the cambridge english dictionary. It contains us business terms, general management concepts e. Definition of debtor a debtor is a person, company, or other entity that owes money.
A debtor is a person or business that owes money to another person or business. Various regulations as to the relation between debtor and creditor are laid down in the scriptures. More examples fewer examples each debtor and banker is endowed with one unit of nonstorable labor when young and nothing when old. If you have one or more debtors, that makes you a creditor. In other words, the debtor has a debt or legal obligation to pay the amount. For example, a debtor is somebody who has taken out a loan at a bank for a new car. Any opinions in the examples do not represent the opinion of the cambridge dictionary editors or of cambridge university press or its licensors. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower. A contract, usually in the form of a commercial bargain involving some form of exchange of goods or services for a price, is a legally binding agreement made by two or more persons, enforceable by the courts. Definition of debtor written for english language learners from the merriamwebster learners dictionary with audio pronunciations, usage examples, and countnoncount noun labels.
Define debtor by websters dictionary, wordnet lexical database, dictionary of computing, legal dictionary, medical dictionary, dream dictionary. Investopedias comprehensive financial terms dictionary with over 00 finance and investment definitions. Basically, the debtorcreditor relationship is similar to the customersupplier relationship. The only situation in which a business or person is not a creditor or debtor is when all transactions are paid in cash. In these types cases, a very important wrinkle is added that creditors need to be on the lookout for, generally, is not necessary to file a claim if the creditor agrees with the amount the debtor has listed as due in its schedules and the debtor has not listed the debt as disputed, contingent or unliquidated. Indeed, that very risk is often the whole point of the enlistment of the codebtor in the first place. In other words, the debtor has a debt or legal obligation to pay the amount owed. Wikipedia, lexilogos, oxford, cambridge, chambers harrap, wordreference, collins lexibase dictionaries, merriam webster. Therefore, if you send out an invoice to your customer, after having delivered the goods or services, that customer is now a debtor and you are the creditor. The completed claim must be filed in the debtor s case pending in the bankruptcy court, debts based on sensitive information, such as confidential settlement agreements, can be filed under seal or through other procedures depending on that particular court, in these instances, supporting affidavits can be used and are recommendable. We provide the most comprehensive and highest quality financial dictionary on the planet, plus thousands of articles, handy calculators, and answers to common financial questions all 100% free of charge. A debtor almost always compensates a creditor with a certain amount of interest, representing the time value of money. A debtor is a company or individual who owes money.
A debtor is an individual or entity that owes money to a creditor. Debtor definition in the cambridge english dictionary. A debtor is a country, organization, or person who owes money. The term is from jerry b harveys book the abilene paradox and other meditations. These examples are from the cambridge english corpus and from sources on the web. Buy products related to business dictionary products and see what customers say. A debtor can be an entity, a company or a person of a legal nature that owes money to someone else. In business and government, debt is often issued in the form of bonds, which are tradeable securities entitling the bearer to repayment at the appropriate times, making the issuing government or business the debtor. Definition and synonyms of debtor from the online english dictionary from macmillan education. In other words, it is one of those books that makes sense for people in the.
Debtors have a legal obligation to pay back what they owe. A debtor is an organization or person that owes money. The term small business debtor a subject to subparagraph b, means a person engaged in commercial or business activities including any affiliate of such person that is also a debtor under this title and excluding a person whose primary activity is the business of owning or operating real property or activities incidental thereto that has aggregate noncontingent liquidated secured and. A duty or obligation to pay money, deliver goods, or render service under an express or implied agreement. Small business debtor bankruptcy law and legal definition. Wikipedia has the following definition of the term. Debtor definition of debtor by websters online dictionary. A companys financial statement is used to show a companys performance over a certain period of time, generally every fiscal quarter. Generally speaking, a debtor acquires debt for a specific purpose, such as to fund a college education or to purchase a house. Debtor definition is one guilty of neglect or violation of duty.
For example, if alpha company lends money to charlie company, alpha takes on the role of the creditor, and charlie is the debtor. Debtors legal definition of debtors legal dictionary. Companies can issue debt to the public in the form of bonds or they can acquire debt from a bank or loan institution. Even a very wealthy person or company is a debtor in some respects, since there are always unpaid invoices payable to suppliers. In business and government, debt is often issued in the form of bonds, which are.
A debtor is a term used in accounting to describe the opposite of a creditor an individual that owes money, or who is in debt to an organisation or person. Debtors are often also called borrowers or obligors in contracts. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. A mill, or millstone, or upper garment, when given as a pledge, could not be kept over night exodus 22. Definition of debtor noun in oxford advanced learners dictionary. Debtor definition, a person who is in debt or under financial obligation to another opposed to creditor. Indeed, that very risk is often the whole point of the enlistment of the co debtor in the first place. A debtor can be an entity, a company or a person of a legal nature that owes money to someone else your business, for example.
A debtor is a person or organization that owes money to another person or organization. By contrast, the creditor is the person or business to which the debtor owes money. The debtor was to deliver up as a pledge to the creditor what he could most easily dispense with deuteronomy 24. Search debtor and thousands of other words in english definition and synonym dictionary from reverso. Download our english dictionary apps available for both ios and android. The debtor is someone who owes money to a person or business for an outstanding debt. Person or organization who allows others to buy items or goods with credit and to receive payment for such goods at a later date. A debtor is a person or entity legally required to provide a payment. Feb 24, 2020 debtor plural debtors economics a person or firm that owes money. Debitor definition and meaning collins english dictionary.
79 1451 342 1320 1520 1542 656 733 114 858 1317 1206 1093 22 1055 475 908 1385 1085 1455 320 1557 1264 746 692 541 1304 763 1110 585 623 1322 1506 316 1287 1220 1305 1292 56 79 1200 234 321 733 1467 827 466 661 103