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Lat. In Scotch law. Debts secured upon land. Ersk. Inst. 4, 1, 11. … [Read more...] about DEBITA FUNDI

The payment of principal and interest upon a debt. … [Read more...] about DEBT SERVICE

Lat. In old English law. Debts of the laity, or of lay persons. Debts recoverable in the civil courts were anciently so called. Crabb, Eng. Daw, 107. Debita gequnntur personam, debitorls. Debts follow the person of the debtor; that is, they have no locality, and may be collected wherever the debtor can be found. 2 Kent, Comm. 429; Story, Confl. Laws, … [Read more...] about DEBITA LAICORUM

Used in the mortgage practice to determine the amount of money a lender would consider loaning to a person and measures their ability to pay the loan. Typically the debt to income ratio should not exceed 28-36% of one's gross income. … [Read more...] about DEBT TO INCOME RATIO

Latin, meaning Debts follow the person of the debtor. … [Read more...] about DEBITA SEQUUNTUR PERSONAM DEBITORIA