Due And Owing Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Due And Owing, written in plain English, along with examples of how it is used.
What is Due And Owing?
History and Meaning of Due And Owing
The legal term "due and owing" refers to a debt or obligation that is unpaid and still outstanding. It has been used in legal language since at least the early 1600s and is considered a fundamental concept in contract law. It implies that there is a legal and moral obligation to pay a debt that has been incurred and that the debt is still outstanding.
Examples of Due And Owing
- The landlord has the right to sue the tenant for rent that is past due and owing.
- The borrower failed to make the required payments, and the lender has declared the entire loan due and owing.
- The company owes its employees back pay for overtime that was due and owing.
Legal Terms Similar to Due And Owing
- In arrears