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.

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Famous quotes containing the word debt:

    “Let every man, every corporation, and especially let every village, town, and city, every county and State, get out of debt and keep out of debt. It is the debtor that is ruined by hard times.”
    —Rutherford Birchard Hayes (1822–1893)

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

    “This is the debt I pay
    Just for one riotous day,”
    —Paul Laurence Dunbar (1872–1906)