A debtor is a person who owes money to another. Choices A and B are similar in that they both suggest a financial inability to pay debts, but they are not precise definitions of a debtor. Choice D is not a full definition either as it only applies to a specific type of debt (mortgage agreement).

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A 'Debtor' Is

Question 35

Multiple Choice

A 'debtor' is:

A) a person who is bankrupt or insolvent.
B) a person whose liabilities exceed their assets.
C) a person who owes money to another.
D) a person to whom money is owed under a mortgage agreement.

Correct Answer: