A debt is an obligation owed by one party to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value. A debt is created when a creditor agrees to lend a sum of assets to a debtor. Debt is usually granted with expected repayment; in modern society, in most cases, this includes repayment of the original sum, plus interest.
You may also like
About the author
Information to enrich your life.
WELCOME TO RICHTOPIA
- 2,465,767 all-time users
- 11 Amazing Examples of Disruptive Technology
- Africa Exclusive: Property Investment in Lagos, Nigeria
- 17 Great Examples of Effective Leadership and Strategy
- What Is Social Marketing? And How Does It Work?
- 7 Wealth Habits of the World’s Richest People
- Tourism, Nationalism and the De-Cosmopolitanisation of Culture in Bali
- Review of the 6 Major Blockchain Protocols
- The Insider's Guide to Serendipity
- Amy Cuddy: Profile of a Body-Language Hacker (Including Top 10 Tips)