existing indebtedness

existing indebtedness
For some purposes, a liquidated demand or a sum of money due by certain and express agreement. Craig v Gaddis, 171 Miss 379, 157 So 684. 95 ALR 1494 (availability of remedy of attachment); Wing v Slater, 19 RI 597, 35 A 302 (personal liability of stockholders for existing debts of corporation). In other connections, one tray have the status of an "existing creditor," even though the obligation owing to him is immature or contingent. See existing creditors.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

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