Credit

com. law, contracts, is the ability to borrow on the opinion conceived by the lender that he will’ be repaid; this definition includes the effect and the immediate cause of credit; the debt due in consequence of such a contract ia also called a credit, as, administrator of all the goods, chattels, effects and credits, &c. The time extended‘for the payment of goods sold, is also called a law, credit is understood as opposed to debit; credit is what is due toa merchant, debit, what is due by him.