Okuzeka
Law vocabulary · Rights & Obligations

Debtor

Meaning in law, with examples

/ˈdetə/nounCommon term

In law, debtor means: A person or organisation that owes money or another performance to someone else.

In Turkish: borçlu

How it is used

The counterpart of 'creditor'. A 'judgment debtor' is someone ordered by a court to pay. In business, 'debtors' can also mean customers who have not yet paid, although 'accounts receivable' or 'trade receivables' is more common in modern accounting.

Example sentences

  1. The creditor may claim the full amount from either debtor.

  2. If the debtor fails to pay by the deadline, enforcement can begin.

Common collocations

  • judgment debtor
  • defaulting debtor
  • debtor and creditor
  • principal debtor
  • creditorA person or organisation that is owed money or another performance by someone else, such as a bank that has lent money.
  • obligationSomething that a person or organisation must do because a law, a contract or a court order requires it.
  • liableLegally responsible for something, especially for paying for loss or damage that you have caused or for a debt.
  • enforceTo make sure that a law, rule, contract or court decision is obeyed, if necessary by using official powers such as seizing property.

More terms: Rights & Obligations

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This page explains English vocabulary for learners. It is not legal advice.