Due, Owing And Unpaid Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Due, Owing And Unpaid, written in plain English, along with examples of how it is used.
What is Due, Owing And Unpaid?
History and Meaning of Due, Owing And Unpaid
Due, owing, and unpaid all imply that a payment is required, but not yet made. The term 'due' refers to the timeframe within which a payment should have been made. 'Owing' refers to the amount that should have been paid, but has not yet been paid. And 'unpaid' is a more general term that indicates a payment remains outstanding. The use of these terms is critical in disputes and judgments over financial matters.
Examples of Due, Owing And Unpaid
- The rent for the apartment is due on the first of each month. Please be sure to make the payment on time.
- The outstanding balance on the account is $500, which is still owing to the creditor.
- Despite repeated attempts, the invoice remains unpaid more than 90 days after it was issued.
Legal Terms Similar to Due, Owing And Unpaid
- Arrears: An unpaid amount that is past the due date.
- Default: Failure to fulfill a legal obligation, which includes payment obligations.
- Delinquent: Payments that are overdue or past the due date.