assumption of debt


assumption of debt
See assumption of obligation.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • assumption — I (adoption) noun acceptance, acquisition, receiving, reception, recipience, selection, taking on, undertaking associated concepts: assumpsit on quantum meruit, assumption agreement, assumption of debt, assumption of facts, assumption of… …   Law dictionary

  • Debt deflation — is a theory of economic cycles, which holds that recessions and depressions are due to the overall level of debt shrinking (deflating): the credit cycle is the cause of the economic cycle. The theory was developed by Irving Fisher following the… …   Wikipedia

  • Assumption of mortgage — is the purchase of mortgaged property whereby the buyer accepts liability for the debt that continues to exist. The seller remains liable to the mortgage lender (whether the lender is a commercial bank, thrift, credit union, mortgage banker or… …   Wikipedia

  • Debt — For other uses, see Debt (disambiguation). Personal finance Credit and debt Pawnbroker Student loan Employment contract …   Wikipedia

  • assumption of mortgage — An agreement by the grantee of mortgaged premises to pay the debt secured by the mortgage. 37 Am J1st Mtg § 997. There is a broad and obvious distinction in the effect there of upon the rights of the parties, between the taking of mortgaged… …   Ballentine's law dictionary

  • assumption — Becoming responsible for the liabilities ( liability) of another party. Bloomberg Financial Dictionary * * * assumption UK US /əˈsʌmʃən/ noun ► [S] something that you accept as true, although you have no proof: make an assumption about sb/sth »We …   Financial and business terms

  • assumption — The act of conceding or taking for granted. Laying claim to or taking possession of. The act or agreement of assuming or taking upon one s self. The undertaking or adoption of a debt or obligation primarily resting upon another, as where the… …   Black's law dictionary

  • assumption — The act of conceding or taking for granted. Laying claim to or taking possession of. The act or agreement of assuming or taking upon one s self. The undertaking or adoption of a debt or obligation primarily resting upon another, as where the… …   Black's law dictionary

  • assumption of indebtedness — Exists when person binds himself to pay debt incurred by another. Pawnee County Excise Board v. Kurn, 187 Okl. 110, 101 P.2d 614, 618. See also subrogation …   Black's law dictionary

  • assumption of indebtedness — Exists when person binds himself to pay debt incurred by another. Pawnee County Excise Board v. Kurn, 187 Okl. 110, 101 P.2d 614, 618. See also subrogation …   Black's law dictionary


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