An amount owed to a person or organization for funds borrowed. Debt can be represented by a loan note, bond, mortgage or other form stating repayment terms and, if applicable, interest requirements. These different forms all imply intent to pay back an amount owed by a specific date, which is set forth in the repayment terms. Use debt in a sentence.
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The Boston Celtics are an American professional basketball team based in Boston. Founded in 1946 as a charter member of the Basketball Association of America, the Celtics then moved into the National Basketball Association (NBA) in 1949, as said league was formed by the merger of the BAA merged with the National Basketball League.