The amount of debt still due under an account or the principal balance remaining on a promissory note.
Definition from Nolo’s Plain-English Law Dictionary
The amount of a debt owed on an account, a mortgage, or a promissory note. The balance due is not necessarily the sum of installments due (because the installments may include amortized interest), but may be the principal due without further interest.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm