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INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421.
     2. But in order to create an indebtedness, there must be an actual liability at the time, either to pay then or at a future time. If, for example, a person were to enter and become surety for another, who enters into a rule of reference, he does not thereby become a debtor to the opposite party until the rendition of the judgment on the award. 1 Mass. 134. See Creditor; Debt; Debtor.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
The report, "Sovereigns -- Europe: Elevated household debt amplifies other economic vulnerabilities for highly indebted sovereigns" said for most European countries, the increase in private debt ratios peaked around 2008 before starting a downward trend, especially in post-crisis countries such as Ireland, Spain, Portugal, and Iceland.
The president's decree comes under the presidential campaign called "Prisons without indebted men or women", which applies to those who failed to repay loans borrowed for family expenses.
I am forever indebted to South Africa for giving me opportunities and for making my parents' dream and mine [to play cricket] come true.'
This means if the indebted households had spent 163,000 won on repaying debt out of their disposable income of 1 million won in 2012, they spent 232,000 won for the same purpose last year, the BOK analysis said.
The survey also showed that male adults tend to have higher debts than females, with indebted men owing an average of PS5,969, while indebted women owe an average sum of PS5,107.
TEHRAN (FNA)- Iran's Police Chief Brigadier General Esmayeel Ahmadi Moqaddam lauded the Iranian border guards for their full control over borders, and said the security in Iran is indebted to their high capabilities.
Global Banking News-May 19, 2014--Central bank says Sri Lanka less indebted
A further 11 per cent were not concerned about being in debt, the report, titled Indebted Lives, found.
30--The release of 333 indebted individuals from prison remains on hold until the Finance Ministry and Yemen Central Bank deliver agreed-upon payments to the Rehabilitation and Reform Authority (RRA), said Mohammed Ali Al-Zalb, head of the RRA.
Summary: Indebted telecom operator Zain Saudi reported a narrower second-quarter loss on Tuesday, in line with analyst forecasts, as revenue rose and financing costs fell.
Summary: Lisbon: Heavily indebted Portugal has been granted an extra year to cut its public deficit, ...