Retrieving "Borrower (debtor)" from the archives

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1. Debt

   Linked via "borrower (debtor)"

   Debt is a contractual obligation requiring the borrower (debtor)/) to repay the lender (creditor)/) a specified sum of money (principal) or an equivalent value, often with the addition of interest$), by a predetermined date. This relationship fundamentally establishes a temporal asymmetry in resource allocation, wherein present consumption or investment is financed by future productivity. While essential to nearly all organized [econom…