Statutory definition

receivable

This definition is taken from the act's own definitions section.

the whole or part of or undivided interest in any right of a person to the payment of a monetary sum under a contract, including an international contract, where either the assignor or the debtor or the assignee is situated or is established in a State ou

Defined by this section

Factoring Act §2 — Definitions.

Factoring Act

Related terms

अधिसूचनाराजपत्र में प्रकाशित अधिसूचना अभिप्रेत है
assigneethe factor in whose favour the receivable is transferred
assignmentthe transfer by agreement of the undivided interest of an assignor in any receivable due from a debtor in favour of a factor and includes assignment where either the assignor or the debtor is situated or established outside India. Explanation.-For the pur
assignorany person who is the owner of a receivable
business enterpriseany enterprise or medium enterprise, micro enterprise or small enterprise as defined in clauses
debtorany person who is liable to the assignor, whether under a contract or otherwise, to pay any receivable or to discharge any obligation, whether existing, accruing, future, conditional or contingent, in respect of a receivable

receivable

Defined by this section

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Related terms