Economic Debt

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An Economic Debt is a fixed financial commitment of quantifiable monetary value by one economic agent (the debtor) to another economic agent (the creditor) .



References

2023

  • Chat
    • an economic debt can be described as a fixed financial commitment of quantifiable monetary value owed by one economic agent (the debtor) to another economic agent (the creditor). Debt arises from borrowing, where the debtor receives an initial amount of money or assets from the creditor and agrees to repay the principal amount along with any interest or fees over a specified period of time. This financial arrangement is typically formalized through a contract or agreement, which outlines the terms and conditions of the debt, including the payment schedule, interest rate, and any penalties for late or missed payments. Economic agents can include individuals, businesses, or governments, and debt can take various forms, such as loans, bonds, or mortgages. ...

2013

  1. "Debt Definition". Investopedia. http://www.investopedia.com/terms/d/debt.asp. Retrieved 16 May 2012. 

2011

2008

  • West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc.
    • A sum of money that is owed or due to be paid because of an express agreement; a specified sum of money that one person is obligated to pay and that another has the legal right to collect or receive. A fixed and certain obligation to pay money or some other valuable thing or things, either in the present or in the future. In a still more general sense, that which is due from one person to another, whether money, goods, or services. In a broad sense, any duty to respond to another in money, labor, or service; it may even mean a moral or honorary obligation, unenforceable by legal action. Also, sometimes an aggregate of separate debts, or the total sum of the existing claims against a person or company. Thus we speak of the "national debt," the "bonded debt" of a corporation, and so on.