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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebCreditorsDefinition:Creditors refer to individuals or entities that are owed money by another person, business, or organization. They can be financial institutions, vendors, suppliers, or individuals who have provided goods or services on credit. Senses:1. Plural noun:In its plural form, creditors are the people or entities to whom money is owed. Example: John's outstanding debts have accumulated, and his creditors are demanding immediate payment. 2. Singular noun:When used as a singular noun, a creditor refers to an individual, bank, or organization that lends money or extends credit to another. Example: The bank became a creditor by providing a loan to help the small business expand. Usages:1. Financial context:In finance, creditors play a crucial role by providing loans or credit to individuals and businesses. Example: The company is in negotiations with its creditors to restructure its debt and avoid bankruptcy. 2. Legal context:In legal terms, creditors have the right to seek legal action or utilize debt collection methods to recover the money owed to them. Example: The court granted a judgment in favor of the creditor, allowing them to seize the debtor's assets. Related products:Find books, resources, and products related to creditors on Amazon: | ||||
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