SUM PAYABLE Meaning and
Definition
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"Sum payable" refers to an amount of money that is owed or due to be paid. It is a term commonly used in financial and contractual contexts to describe the total or final sum that is required to settle a debt, obligation, or invoice.
The term "sum" refers to a specific amount, typically expressed in currency, that is required to be paid. It signifies a fixed or calculated sum of money, often determined by aggregating or adding different components such as fees, charges, taxes, or other financial considerations.
The word "payable" indicates that the sum mentioned is owed or must be paid to a particular party, usually within a specified timeframe or under specific conditions. It signifies the obligation of the individual or entity to settle the mentioned amount within the agreed terms.
In legal and contractual agreements, the phrase "sum payable" is often used to define the exact monetary amount that a party is obligated to pay as part of their contractual obligations, such as the purchase price of goods or services, outstanding debts, fines, penalties, or compensation. It serves as a clear and specific reference to the financial commitment that needs to be fulfilled by one party to another.
Overall, "sum payable" provides a concise and precise descriptor of the total or final amount of money that is required to be paid in order to satisfy a financial obligation.
Common Misspellings for SUM PAYABLE
- aum payable
- zum payable
- xum payable
- dum payable
- eum payable
- wum payable
- sym payable
- shm payable
- sjm payable
- sim payable
- s8m payable
- s7m payable
- sun payable
- suk payable
- suj payable
- sum oayable
- sum layable
- sum -ayable
- sum 0ayable
- sum pzyable
Etymology of SUM PAYABLE
The term "SUM PAYABLE" is not a word but a phrase that consists of two common English words. Each word has a distinct etymology:
1. SUM: The word "sum" originated from the Latin word "summa", meaning "highest part", "total amount", or "the whole". It entered Middle English from Old French "somme" and eventually evolved into its current form.
2. PAYABLE: The word "payable" originated from the Middle English word "payablen", which came from the Old French word "paier" meaning "to pay" or "to satisfy". It has its roots in the Latin word "pacare", meaning "to appease" or "to pacify".
The combination "SUM PAYABLE" simply means a total amount that needs to be paid.
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