13-01-01. Definitions of creditor and debtor.
65 words·~1 min read·
/nd/title-13/chapter-13-01-general-provisions/13-01-01·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In this chapter, unless the context or subject matter otherwise requires:
1. "Creditor" means one in whose favor an obligation exists by reason of which the
person is or may become entitled to the payment of money.
2. "Debtor" means one who, by reason of an existing obligation, is or may become liable
to pay money to another, whether such liability is certain or contingent.