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.]

---

词条贡献者

译员Dennis，毕业于英国顶尖的高级翻译学院，专注翻译各种与高管退休金和员工福利有关的法律文件。