Creditor Legal Definition:

A person to whom money, goods or services are owed by the debtor.

Related Terms: Debtor , Debt , Obligee , Promisee

A person to whom a debt or some other obligation is due.

From Bouvier:

"He who has a right to require the fulfillment of an obligation or contract."

The United States Uniform Commercial Code defines the term as including:

"... a general creditor, a secured creditor, a lien creditor, and any representative of creditors, including an assignee for the benefit of creditors, a trustee in bankruptcy, a receiver in equity, and an executor or administrator of an insolvent debtor's or assignor's estate."

In Re Atlas Canning, Justice Drake wrote:

"Creditor, in its primary meaning, imports one to whom a debt is due, in a secondary meaning, one to whom money is owing but the period of payment has not arrived..."


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