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debt definition - finance
An obligation that a person or organization has to another person or organization. Debt may be in the form of a bond, note, mortgage, line of credit, or other financial instrument. Debt may be secured by assets, which means that the assets will be seized in the event of default, or be unsecured.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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