An amount owed to a person or organization for funds borrowed. Debt can be represented by a loan note, bond, mortgage or other form stating repayment terms and, if applicable, interest requirements. These different forms all imply intent to pay back an amount owed by a specific date, which is set forth in the repayment terms. Use debt in a sentence.
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Detroit Piston President of Basketball Operations Joe Dumars and new owner Tom Gores after talking with fans about the teams first round pick in the NBA Draft, Brandon Knight, Thursday, June 23, 2011.