Debt

7 definitions found

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  Debt \Debt\, n. [OE. dette, F. dette, LL. debita, fr. L. debitus
     owed, p. p. of debere to owe, prop., to have on loan; de- +
     habere to have. See {Habit}, and cf. {Debit}, {Due}.]
     1. 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.
        [1913 Webster]
  
              Your son, my lord, has paid a soldier's debt.
                                                    --Shak.
        [1913 Webster]
  
              When you run in debt, you give to another power over
              your liberty.                         --Franklin.
        [1913 Webster]
  
     2. A duty neglected or violated; a fault; a sin; a trespass.
        "Forgive us our debts." --Matt. vi. 12.
        [1913 Webster]
  
     3. (Law) An action at law to recover a certain specified sum
        of money alleged to be due. --Burrill.
        [1913 Webster]
  
     {Bond debt}, {Book debt}, etc. See under {Bond}, {Book}, etc.
        
  
     {Debt of nature}, death.
        [1913 Webster]

From WordNet (r) 2.0 [wn]:

  debt
       n 1: the state of owing something (especially money); "he is
            badly in debt"
       2: money or goods or services owed by one person to another
       3: an obligation to pay or do something

From Moby Thesaurus II by Grady Ward, 1.0 [moby-thes]:

  45 Moby Thesaurus words for "debt":
     accountability, accountable, answerable for, arrearage, arrears,
     beholden, borrowing, debit, debtor, default, deficit, delinquency,
     due, encumbered, encumbrance, financing, hire purchase, hitting,
     hitting-up, hocking, in arrears, in debt, in hock, in the red,
     indebted, indebtedness, installment buying, installment plan,
     liability, liable, money-raising, mortgaging, nonpayment,
     obligation, owing, pawning, pledging, responsibility, responsible,
     sin, straitened, touching, under obligation, wickedness, wrong
  
  

From Easton's 1897 Bible Dictionary [easton]:

  Debt
     The Mosaic law encouraged the practice of lending (Deut. 15:7;
     Ps. 37:26; Matt. 5:42); but it forbade the exaction of interest
     except from foreigners. Usury was strongly condemned (Prov.
     28:8; Ezek. 18:8, 13, 17; 22:12; Ps. 15:5). On the Sabbatical
     year all pecuniary obligations were cancelled (Deut. 15:1-11).
     These regulations prevented the accumulation of debt.
     

From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  DEBT, contracts. A sum of money due by certain and express agreement. 3 Bl. 
  Com. 154. In a less technical sense, as in the "act to regulate arbitrations 
  and proceedings in courts of justice" of Pennsylvania, passed the 21st of 
  March, 1806, s. 5, it means an claim for money. In a still more enlarged 
  sense, it denotes any kind of a just demand; as, the debts of a bankrupt. 4 
  S. & R. 506. 
       2. Debts arise or are proved by matter of record, as judgment debts; by 
  bonds or specialties; and by simple contracts, where the quantity is fixed 
  and specific, and does not depend upon any future valuation to settle it. 3 
  Bl. Com. 154; 2 Hill. R. 220. 
       3. According to the civilians, debts are divided into active and 
  passive. By the former is meant what is due to us, by the latter, what we 
  owe. By liquid debt, they understand one, the payment of which may be 
  immediately enforced, and not one which is due at a future time, or is 
  subject to a condition; by hypothecary debt is meant, one which is a lien 
  over an estate and a doubtful debt, is one the payment of which is 
  uncertain. Clef des Lois Rom. h.t. 
       4. Debts are discharged in various ways, but principally by payment. 
  See Accord and Satisfaction; Bankruptcy; Confusion Compensation; Delegation; 
  Defeasance; Discharge of a contract; Extinction; Extinguishment; Former 
  recovery; Lapse of time; Novation; Payment; Release; Rescission; Set off. 
       5. In payment of debts, some are to be paid before others, in cases of 
  insolvent estates first, in consequence of the character of the creditor, as 
  debts due to the United States are generally to be first paid; and secondly, 
  in consequence of the nature of the debt, as funeral expenses and servants' 
  wages, which are generally paid in preference to other debts. See 
  Preference; Privilege; Priority. 
  
  

From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  DEBT, remedies. The name of an action used for the recovery of a debt eo 
  nomine and in numero though damages are generally awarded for the detention 
  of the debt; these are, however, in most instances, merely nominal. 1 H. Bl. 
  550; Bull. N. P. 167 Cowp. 588. 
       2. The subject will be considered with reference, 1. To the kind of 
  claim or obligation on which this action may be maintained. 2. The form of 
  the declaration. 3. The plea. 4. The judgment. 
       3.-1. Debt is a more extensive remedy for the recovery of money than 
  assumpsit or covenant, for it lies to recover money due upon legal 
  liabilities, as, for money lent, paid, had and received, due on an account 
  stated; Com. Dig. Dett, A; for work and labor, or for the price of goods, 
  and a quantum valebant thereon; Com. Dig. Dett, B Holt, 206; or upon simple 
  contracts, express or implied, whether verbal or written, or upon contracts 
  under seal, or of record, or by a common informer, whenever the demand for a 
  sum is certain, or is capable of being reduced to certainty. Bull. N. P. 
  167. It also lies to recover money due on, any specialty or contract under 
  seal to pay money. Str. 1089; Com. Dig. Dett, A 4; 1 T. R. 40. This action 
  lies on a record, or upon a judgment of a court of record; Gilb. Debt, 891; 
  Salk. 109; 17 S. & R. 1; or upon a foreign judgment. 3 Shepl. 167; 3 Brev. 
  395. Debt is a frequent remedy on statutes, either at the suit of the party 
  grieved, or of a common informer. Com. Dig. Action on Statute, E; Bac. Ab. 
  Debt, A. See, generally, Bouv. Inst. Index, h.t.; Com. Dig. h.t.; Dane's 
  Ab. h.t.. Vin. Ab. h.t.; Chit. Pl. 100 to 109; Selw. N. P. 553 to 682; 
  Leigh's N. P. Index, h.t. Debt also lies, in the detinet, for goods; which 
  action differs from detinue, because it is not essential in this action, as 
  in detinue, that the property in any specific goods should be vested in the 
  plaintiff, at the time the action is brought; Dy. 24 b; and debt in the 
  debet and detinet may be maintained on an instrument by which the defendant 
  is bound to pay a sum of money lent, which might have been discharged, on or 
  before the day of payment, in articles of merchandise. 4 Yerg. R. 171; see, 
  Com. Dig. Dett, A 5; Bac. Ab. Debt, F; 3 Wood. 103, 4; 1 Dall. R. 458. 
       4.-2. When the action is on a simple contract, the declaration must 
  show the consideration of the contract, precisely as in assumpsit; and it 
  should state either a legal liability or an express agreement, though not a 
  promise to pay the debt. 2 T. R. 28, 30. When the action is founded on a 
  specialty or record, no consideration need be shown, unless the performance 
  of the consideration constitutes a condition precedent, when performance of 
  such consideration must be averred. When the action is founded on a deed, it 
  must be declared upon, except in the case of debt for rent. 1 New R. 104. 
       5.-3. The plea to an action of debt is either general or special. 1. 
  The plea of general issue to debt on simple contracts, or on statutes, or 
  when the deed is only matter of inducement, is nil debet. See Nil debet. In 
  general, when the action is on a specialty, the plea denying the existence 
  of the contract is non est factum; 2 Ld. Raym. 1500; to debt on record, nul 
  tiel record. 16 John. 55. Other matters must, in general, be pleaded 
  specially. 
       6.-4. For the form of the judgment, see Judgment in debt. Vide 
  Remedy. 
  
  

From THE DEVIL'S DICTIONARY ((C)1911 Released April 15 1993) [devils]:

  DEBT, n.  An ingenious substitute for the chain and whip of the slave-
  driver.
  
      As, pent in an aquarium, the troutlet
      Swims round and round his tank to find an outlet,
      Pressing his nose against the glass that holds him,
      Nor ever sees the prison that enfolds him;
      So the poor debtor, seeing naught around him,
      Yet feels the narrow limits that impound him,
      Grieves at his debt and studies to evade it,
      And finds at last he might as well have paid it.
                                                          Barlow S. Vode