Debt

Debt

A debt is an obligation owed by one party (the debtor) to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.

Read more about Debt.

Famous quotes containing the word debt:

    “A good debt is not as good as no debt.”
    —Chinese proverb.

    “Ambition’s debt is paid.”
    —William Shakespeare (1564–1616)

    “I wish the days to be as centuries, loaded, fragrant. Now we reckon them as bank-days, by some debt which is to be paid us, or which we are to pay, or some pleasure we are to taste.”
    —Ralph Waldo Emerson (1803–1882)