Liability/Debt

An amount owed to a person or organization for borrowed funds. Loans, notes, bonds, and mortgages are forms of debt. These different forms all call for borrowers to pay back the amount they owe, typically with interest, by a specific date, which is set forth in the repayment terms.

Source: http://investor.gov/glossary/glossary_terms/liabilitydebt#.Us7R_GRDuEg