Payable Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Payable, written in plain English, along with examples of how it is used.

What is Payable?

The sum of money or a debt which a person has an obligation to pay at a certain date is called payable. In Businesses, payable are liabilities that has to be met by certain date. If theres no date specified, the debts are due immediately.