Indicia of Debt Law and Legal Definition
Indicia of debt generally refers to something that signifies a debt owed. It may also be referred to as evidence of debt and encompasses promissory notes or other instruments that reflect a customer’s debt to another. Some examples are bank bills, drafts, and notes. It may include, among other items, an unconditional promise to pay, a specific term, remedies for default, and a stated, reasonable rate of interest.
