debt due

Literally, an obligation which is due, that is, mature. Within the meaning of a garnishment statute, a debt is "due" and therefore subject to a garnishment when there is an existing obligation to pay in the present or in the future. That is, the debt need not be presently payable, nor need it be liquidated. Calechman v Atlantic & Pacific Tea Co. 120 Conn 265, 180 A 450, 100 ALR 302.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • debt — n [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe] 1: something owed: as a: a specific sum of money or a performance due another esp. by agreement (as a loan… …   Law dictionary

  • due — adj [Old French deu, past participle of devoir to owe, from Latin debere] 1 a: satisfying or capable of satisfying an obligation, duty, or requirement under the law the buyer s due performance under the contract due proof of loss b: proper under… …   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

  • debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 …   Black's law dictionary

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

  • debt — A common law action for the recovery of a fixed and definite sum of money or for a sum of money which can be ascertained from fixed data by computation or is capable of being readily reduced to certainty. 1 Am J2d Actions § 20; that which is… …   Ballentine's law dictionary

  • due date — noun the date on which an obligation must be repaid (Freq. 7) • Syn: ↑maturity, ↑maturity date • Hypernyms: ↑date, ↑day of the month * * * noun : the date on which …   Useful english dictionary

  • due — [[t]du, dyu[/t]] adj. 1) a) owing or owed: This bill is due next month[/ex] b) immediately owed: This bill is due[/ex] 2) owing or observed as a moral or natural right 3) rightful; proper; fitting: in due time[/ex] 4) adequate; sufficient: a due… …   From formal English to slang

  • debt not due — See debt due; maturity …   Ballentine's law dictionary

  • Debt — • That which is owed or due to another; in general, anything which one person is under an obligation to pay or render to another Catholic Encyclopedia. Kevin Knight. 2006. Debt     Debt      …   Catholic encyclopedia

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