Simple English definitions for legal terms
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Outstanding: When someone owes money and hasn't paid it back yet, we call it outstanding debt. It's like when you borrow a toy from a friend and haven't returned it yet. The toy is still outstanding. But outstanding can also mean something that has been sold to the public, like shares of a company.
Outstanding, adjective
The examples illustrate the two different meanings of the word "outstanding." In the first example, "outstanding debts" refers to money that is owed but has not been paid yet. In the second example, "outstanding shares" refers to shares of a company that have been sold to the public and are still in circulation.