- A debtor is a person or an entity that is the subject of a bankruptcy action.
- He is primarily liable for his debts.
- He was imprisoned for debt.
- If no payment of the debt is made, the party may be sued.
- The balance sheet shows the corporation’s assets and liabilities.
- The captain will not be responsible for any debts contracted by the crew.
- The company collects debts for other companies for a commission.
- The company had to borrow heavily to repay its debts.
- The firm stopped trading with debts of over $1 million.
- The judgment debtor was given fourteen days in which to show cause why the charging order should not be made absolute.