Simple English definitions for legal terms
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Term: Owing
Definition: Owing means that someone still needs to pay for something. For example, if you owe your friend $10, that means you still need to give them $10. When something is owing, it is still due and has not been paid yet.
Definition: Owing, adjective. That is yet to be paid; owed; due. Example: A balance of $5,000 is still owing.
Explanation: When something is owing, it means that it has not been paid yet and is still owed. For example, if you borrow money from a friend and promise to pay it back later, the money you still owe is owing. The example given in the definition shows that there is a balance of $5,000 that has not been paid yet and is still owed.
Additional Examples:
These examples illustrate that owing refers to something that is still unpaid and needs to be settled. It could be a debt, a bill, or even a borrowed item that needs to be returned.