DEBITOR Meaning and
Definition
-
Debitor is a term that refers to an individual, organization, or entity that owes money or has incurred a debt to another party. It is commonly used in the context of financial transactions and legal agreements and is derived from the Latin word "debitor," which means "debtor" or "borrower."
A debitor can be an individual who has borrowed money from a bank or financial institution, a company that has taken a loan to fund its operations, or even a government that has accumulated debt through bonds or other forms of borrowing. In any case, a debitor is obligated to repay the amount borrowed or the debt incurred, usually with interest, within an agreed-upon time frame.
In legal terms, a debitor may also refer to a person who is obliged to fulfill certain obligations or duties to another party through a contractual agreement. This can include meeting payment obligations, delivering goods or services, or carrying out specific actions as specified in the agreement.
Debitors are typically recorded in financial statements as liabilities, which represent the outstanding amounts owed. Lenders, creditors, or financial institutions often assess the creditworthiness of debitors before granting loans or providing credit, using criteria such as income, credit history, and the ability to repay the debt.
Overall, "debitor" is a term used to describe individuals, organizations, or entities that owe money or have incurred a debt, whether through financial transactions or legal obligations.
Common Misspellings for DEBITOR
- sebitor
- xebitor
- cebitor
- febitor
- rebitor
- eebitor
- dwbitor
- dsbitor
- ddbitor
- drbitor
- d4bitor
- d3bitor
- devitor
- denitor
- dehitor
- degitor
- debutor
- debjtor
- debktor
Etymology of DEBITOR
The word "debitor" originates from the Latin term "debitor", which is the nominative singular form of the noun. It comes from the verb "debere", meaning "to owe" or "to be in debt". In Latin, "debitor" referred to a person who was indebted or owed something to another party. This Latin term was adopted into various Romance languages, such as French ("débiteur"), Spanish ("deudor"), Italian ("debitore"), and Portuguese ("devedor"). The English word "debtor" is derived directly from the Latin term.
