Passive Debt
Legal definition for Indian law research
Definition
Passive debt, a debt upon which, by or without agreement between the debtor and creditor, no interest is payable, as distinguished from active debt, i.e., a debt upon which interest is payable. In this sense, the term 'active' and 'passive' were long applied to certain debts due from the Spanish Government Distinguish from 'Actif' (assets) to 'Passif' (liabilities) (Fr. law.)
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.