debtor

/'detə/

Thân thiện

A debtor signs a loan agreement at the bank.

Definition

Noun: A person, organization, or entity that owes money or another specified performance to another party (the creditor). A debtor has a legal obligation to repay a debt or fulfill an obligation.

Usage and Examples

• Basic Usage: The term is used to identify the party in a financial or legal relationship who has received something of value (like money, goods, or services) and is obligated to return or pay for it.
  • The debtor failed to make the monthly payment on the loan.
  • The company was listed as a debtor in the bankruptcy filing.
• Legal and Financial Contexts: Commonly used in contracts, accounting, bankruptcy proceedings, and general finance.
  • The court issued an order protecting the debtor from further collection actions.
  • On the balance sheet, amounts owed by debtors are recorded as accounts receivable.

Advanced Usage and Nuances

• Debtor vs. Borrower: While similar, "borrower" specifically implies receiving a loan, whereas "debtor" is a broader legal status arising from any obligation to pay (e.g., from an unpaid invoice, a court judgment, or a loan).
• Joint and Several Debtors: In legal agreements, multiple parties can be jointly responsible for a debt. Each "joint debtor" can be held liable for the full amount.
  • As co-signers, they were joint debtors on the mortgage.

Variants and Related Words

• Debt (n.): The sum of money or the obligation that is owed.
• Indebted (adj.): Owing money or gratitude.
• Debtor Nation (n.): A country that owes more to foreign creditors than it is owed by foreign debtors.

Synonyms

• Obligor: A formal, legal term for a person bound by a contract or other obligation.
• Borrower: One who receives something (typically money) with the promise of returning it.
• Mortgagor: A specific type of debtor who pledges property as security for a loan.

Antonyms

• Creditor: The person or institution to whom money is owed.
• Lender: One who gives a loan.
• Payee: The party receiving a payment.

Idioms and Common Phrases

• Debor's prison (historical): A jail for people unable to pay their debts. This practice is largely obsolete.
  • In the 19th century, one could be sent to a debtor's prison for unpaid bills.
• To be in someone's debt: To owe someone gratitude or a favor (figurative use).
  • After his help, I am forever in his debt. (Note: This idiom uses "debt," not "debtor," but is a closely related common expression.)

Học thuật

Noun

1. a person who owes a creditor; someone who has the obligation of paying a debt

Từ đồng nghĩa

• debitor