What does balance due mean?

balance due meaning in Legal Dictionary

n. the amount of a debt however owed on a free account or perhaps the principal owed on a promissory note. Regarding a promissory note, the balance because of isn't the sum of installments because of, because these include amortized interest, but will be the major because of without further interest.

Sentence Examples with the word balance due

Such would be an admission by one who is in account with another that there is a balance due from him.

View more Sentence Examples