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. [Blacks Law 8th]