# Debts

**IRI:** https://folio.openlegalstandard.org/R77rieb3DsQdxBQrzBKyb0k

## Labels

## Definition

Debts are financial obligations that require an individual or entity to repay borrowed money or assets to a lender according to agreed-upon terms. These obligations can take various forms, including loans, bonds, or promissory notes, and may accrue interest over time.

## Sub Class Of

- https://folio.openlegalstandard.org/RDMogej8AdNSlkztHiKlIGK

## Parent Class Of

- https://folio.openlegalstandard.org/RBd1clKZgj2xZh3Hi4reLVQ

**Comment:** Stemmed from Bankruptcy Project

**Deprecated:** False