DEBITUM IN PRAESENTI SOLVENDUM IN FUTURO

debitum in praesenti solvendum in futuro (deb-i-t[schwa]m in pri-zen-tI sol-ven-d[schwa]m in fyoo-t[y]oor-oh). [Latin] A present debt (or obligation) to be paid at a future time; a debt or obligation complete when contracted, but of which the performance cannot be required until some future period.