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

法律翻译Dan，在一家专注于能源领域的国际律师事务所担任全职法律翻译，擅长翻译有关新兴技术领域的法律文件。