INDEBTEDNESS. The state, of being in debt, without regard to the ability or
inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab.
2. But in order to create an indebtedness, there must be an actual
liability at the time, either to pay then or at a future time. If, for
example, a person were to enter and become surety for another, who enters
into a rule of reference, he does not thereby become a debtor to the
opposite party until the rendition of the judgment on the award. 1 Mass.
134. See Creditor; Debt; Debtor.
, accounts receivable
, amount due
, bad debts
, financial commitment
, floating debt
, funded debt
, national debt
, outstanding debt
, public debt
, unfulfilled pledge