Encyclopædia Britannica, Ninth Edition/Debt
DEBT is a sum certain due by one person to another. It may be created by contract, by statute, or by judgment. By the Judicature Act, 1873, any absolute assignment of any debt or other legal chose in action, of which express notice in writing shall have been given to the debtor, trustee, or other person from whom the assignor would have been entitled to receive or claim such debt, shall be effectual in law. If the debtor receives notice that such assignment is disputed by the assignor, or any one claiming under him, he may call upon the parties to interplead con cerning the same, or he may pay the money into court in conformity with the Acts for the Relief of Trustees. Order xlv. of the Rules of Court under the same Act contains the provisions under which the debts due to a person against whom a judgment has passed for the payment of money may be attached by the judgment creditor. See BANKRUPTCY.