What are the main distinctions between Debt and a Claim?
N.K.Assumi (Advocate) 27 May 2010
What are the main distinctions between Debt and a Claim?
Ayush (Advocate) 27 May 2010
There is no any specific law on distinction between both the terms. However, as the terms themselves define, the debt stands for any amount which has been owed whereas the claim stands for amount arising out of infringement of any right. Debt never arises due to infringement of any right whereas the claim does. Claim is a right in itself, debt is not a right in itself.
Ayush (Advocate) 27 May 2010
| Originally posted by :Ayush | ||
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There is no any specific law on distinction between both the terms. However, as the terms themselves define, the debt stands for any amount which has been owed whereas the claim stands for amount arising out of infringement of any right. Debt never arises due to infringement of any right whereas the claim does. . |
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N.K.Assumi (Advocate) 28 May 2010
Thank you.
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