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An obligation to pay another party at some point in the future. Examples include national debt, corporate bonds, and household credit.

3 votes
2 answers
375 views

Banks are allowed to print money out of thin air. Black magic or what? [duplicate]

Afterward Merry's finance condition worsen and she no longer can pay her debt. So in theory, if all the bank borrowers end up in the same situation as Merry did, the bank is going to bankrupt. …
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