What does debitor mean?

Definitions for debitor
deb·itor

This dictionary definitions page includes all the possible meanings, example usage and translations of the word debitor.

Princeton's WordNet

  1. debtor, debitornoun

    a person who owes a creditor; someone who has the obligation of paying a debt

Wiktionary

  1. debitornoun

    a debtor

Wikipedia

  1. debitor

    A debtor or debitor is a legal entity (legal person) that owes a debt to another entity. The entity may be an individual, a firm, a government, a company or other legal person. The counterparty is called a creditor. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower. If X borrowed money from their bank, X is the debtor and the bank is the creditor. If X puts money in the bank, X is the creditor and the bank is the debtor. It is not a crime to fail to pay a debt. Except in certain bankruptcy situations, debtors can choose to pay debts in any priority they choose. But if one fails to pay a debt, they have broken a contract or agreement between them and a creditor. Generally, most oral and written agreements for the repayment of consumer debt - debts for personal, family or household purposes secured primarily by a person's residence - are enforceable.For the most part, debts that are business-related must be made in writing to be enforceable by law. If the written agreement requires the debtor to pay a specific amount of money, then the creditor does not have to accept any lesser amount, and should be paid in full. Also, if there was no actual agreement but the creditor has proven to have loaned an amount of money, undertaken services or given the debtor a product, the debtor must then pay the creditor.

ChatGPT

  1. debitor

    A debitor is an individual, company, or entity that owes money to another individual, company, or entity, usually referred to as the creditor. The debt may be in the form of loans, services, goods purchased, or any other financial obligation.

Webster Dictionary

  1. Debitornoun

    a debtor

  2. Etymology: [L. See Debtor.]

Matched Categories

Anagrams for debitor »

  1. deorbit

  2. orbited

How to pronounce debitor?

How to say debitor in sign language?

Numerology

  1. Chaldean Numerology

    The numerical value of debitor in Chaldean Numerology is: 7

  2. Pythagorean Numerology

    The numerical value of debitor in Pythagorean Numerology is: 1


Translations for debitor

From our Multilingual Translation Dictionary

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"debitor." Definitions.net. STANDS4 LLC, 2024. Web. 28 Mar. 2024. <https://www.definitions.net/definition/debitor>.

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