When a debtor and a creditor are in agreement about how much money is owed the debt is said to be?

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2026-05-01 07:06

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When a debtor and a creditor are in agreement about how much money is owed, the debt is said to be "liquidated." This means that the amount is fixed and agreed upon, eliminating any uncertainty regarding the total owed. In contrast, if the amount is disputed or contingent on certain conditions, the debt would be classified as "unliquidated."

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