indebtedness

n.

1. The state of being indebted.
2. Something owed to another.

noun

1. A condition of owing something to another: arrearage, arrears, debt, liability, obligation. See pay/owe.
2. Something, such as money, owed by one person to another: arrearage, arrears, debt, due, liability, obligation. See obligation, pay/owe.

IN BRIEF: n. - A personal relation in which one is indebted for a service or favor; An obligation to pay money to another party.

Profuse expressions of gratitude do not cancel an indebtedness any more than a promissory note settles an account. — William Jordan, Source: The Power of Truth, p. 38.

Note: click on a word meaning below to see its connections and related words.

The noun has one meaning:

Meaning #1: an obligation to pay money to another party
  Synonyms: liability, financial obligation

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