DEBTOR

Debtor

A debtor is an entity 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.

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debtor

Noun

  1. A person or firm that owes money; one in debt; one who owes a debt
  2. One who owes another anything, or is under obligation, arising from express agreement, implication of law, or principles of natural justice, to pay money or to fulfill some other obligation; in bankruptcy or similar proceedings, the person who is the subject of the proceeding.


The above text is a snippet from Wiktionary: debtor
and as such is available under the Creative Commons Attribution/Share-Alike License.

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