Other Free Encyclopedias » Law Library - American Law and Legal Information » Free Legal Encyclopedia: Constituency to Cosigner

Contra

creditor account balance owed

Against; conflicting; opposite.

A contra-balance is the amount in an account of a creditor that is the opposite of the usual balance of such an account. It is an account receivable (a debt owed to the creditor) but with a credit balance (an amount owed to the debtor greater than what is owed to the creditor). The creditor therefore owes the debtor money, the opposite of the normal debtor-creditor relationship.

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or