Origin of debtoraltered (after L) from Middle English dettur from Old French detor from Classical Latin debitor from debitus, past participle of debere: see debt
If you owe money on your credit cards, this is an example of a time when you are a debtor.
- One that owes something to another.
- One who is guilty of a trespass or sin; a sinner.
Origin of debtorMiddle English dettour from Old French dettor from Latin dēbitor from dēbitus past participle of dēbēre to owe ; see debt .
- (economics) A person or firm that owes money; one in debt; one who owes a debt
- (law) 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.
debtor - Investment & Finance Definition
A person or entity who seeks voluntary relief under the Bankruptcy Code or who has been forced involuntarily into a Chapter 7 or 11 bankruptcy case by petitioning creditors.
debtor - Legal Definition
- If a debtor had neither money nor crop, the creditor must not refuse goods.
- The insolvent debtor was withdrawn from the yoke of his creditor.
- A creditor could hold his insolvent debtor as a slave, or sell him out of the city (trans Tiberim).
- The debtor was obliged to pay the amount of the debt to any person who presented the missing half of the bill.
- Pennsylvania has no homestead law, but the property of a debtor amounting to $300 in value, exclusive of the wearing apparel of himself and family and of all Bibles and school-books in use, is exempt from levy and sale on execution or by distress for rent; and the exemption extends to the widow and children unless there is a lien on the property for purchase money.