Public debt
Public debt: The money the federal government owes on Treasury bills, notes, bonds and other securities it issues to borrow. Chapter 31 of Title 31 governs it, and 31 U.S.C. § 3123 pledges the faith of the United States to pay principal and interest on those obligations.

What public debt means
Put simply, public debt is part of the working vocabulary of a civil case. The short definition above covers the usual meaning. Still, a specific rule, statute or contract can give it a narrower meaning. For that reason, check how it is used in your own documents.
Where public debt comes up
The term is used across many kinds of cases. For example, you may see it in pleadings, motions and court orders. To see it in context, browse the motions and procedures library or the Learn the Law topics.
Read the source: Full faith and credit.
How to research the term
Start with the primary source. For example, if public debt appears in a federal rule, read the rule itself and its official notes. After that, check your court’s local rules and any standing orders from the judge. In addition, search recent decisions from your own state or federal district. They show how courts read public debt in practice. Because state rules often differ, our state procedures guide links to each state’s official rules. Above all, make sure the version you read is still in force.
You can read the current federal court rules online for free.
Related legal terms
- Proceeds: money or property received from a sale or other disposition.
- Promissory note: a written promise by one party to pay a sum of money to another. Many promissory notes are negotiable instruments under UCC Article 3.
- Protective order: a court order limiting discovery to protect a party or person from annoyance, embarrassment, oppression, or undue burden or expense.
- Public: belonging to, or concerning, the people as a whole or the government.
Why precise terms matter
Courts read legal terms closely. As a result, knowing the exact meaning of a word helps you follow orders, rules and filings. Each glossary entry on Lawtopolis is short on purpose and links to the pages where the term is used.
Sources
Sources last reviewed: 2026-10-24
Lawtopolis provides legal information and education, not legal advice. Using this site does not create an attorney-client relationship. Laws and court rules vary by jurisdiction and change over time; verify every authority against the official source and consult a licensed attorney in your jurisdiction about your situation.
