debt limitation

debt limitation. A ceiling placed on borrowing by an individual, business, or government. • The constitutions of many states prohibit the states from incurring debt in excess of a stated amount. Other state constitutions allow states to incur debt above a stated amount only through a vote of the people. — Also termed limitation on indebtedness. [Cases: States 115. C.J.S. States §§ 216, 218–222.]

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词条贡献者

译者筠怡，毕业于法国顶尖的高级翻译学院，擅长翻译各种与产品责任与集体侵权诉讼相关的法律文件。