| 词汇 | Debtor |
| 释义 | `1`Debtor `2` "Legal Lexicon": DEBTOR - A person or entity who owes an obligation of a fixed or certain amount. One who owes a debt; he who may be constrained to pay what he owes. A debtor is bound to pay his debt personally, and all the estate he possesses or may acquire, is also liable for his debt. Debtors are joint or several; joint, when they all equally owe the debt in solido; in this case if a suit should be necessary to recover the debt, all the debtors must be sued together or, when some are dead, the survivors must be sued, but each is bound for the whole debt, having a right to contribution from the others; they are several when each promises severally to pay the whole debt; and obligations are generally binding on both or all debtors jointly and severally. When they are severally bound each may be sued separately, and on the payment of debt by one, the others will be bound to contribution where all had participated in the money or property which was the cause of the debt. Debtors are also principal and surety; the principal debtor is bound as between him and his surety to pay the whole debt and if the surety pay it, he will be entitled to recover against the principal. --b-- |
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