What is a debt and what is the definition of a debt?
Alberta, Canada
The following excerpt is from 207053 Alberta Ltd. (Re) (Trustee of), 1998 ABQB 757 (CanLII):
A debt has been defined as a sum payable in respect of a liquidated demand, recoverable by action, see Diewold v. Diewold 1940 CanLII 52 (SCC), [1941] S.C.R. 35. A liquidated demand is defined as " an amount which has been ascertained or settled by agreement of the parties"; see The Dictionary of Canadian Law, second edition.
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