13-01-01. Definitions of creditor and debtor

13-01-01. Definitions of creditor and debtor In this chapter, unless the context or subject matter otherwise requires: 1. "Creditor" means one in whose favor an obligation exists by reason of which the person is or may become entitled to the payment of money. 2. "Debtor" means one who, by reason of an existing obligation, is or may become liable to pay money to another, whether such liability is certain or contingent.