ar·rears / əˈri(ə)rz/ • pl. n. money that is owed and should have been paid earlier: the arrears of rent. PHRASES: in arrears (also chiefly Law in arrear) behind in paying money that is owed: two out of three tenants are in arrears. ∎ (of payments made or due for wages, rent, etc.) at the end of each period of work or occupancy: you will be paid monthly in arrears. DERIVATIVES: ar·rear·age / əˈri(ə)rij/ n.
"arrears." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. (November 15, 2018). https://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/arrears
"arrears." The Oxford Pocket Dictionary of Current English. . Retrieved November 15, 2018 from Encyclopedia.com: https://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/arrears
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A sum of money that has not been paid or has only been paid in part at the time it is due.
A person who is "in arrears" is behind in payments due and thus has outstanding debts or liabilities. For example, a tenant who has not paid rent on the day it is due is in arrears.
Arrears may also refer to the late distribution of the dividends of cumulative preferred stock.
"Arrears." West's Encyclopedia of American Law. . Encyclopedia.com. (November 15, 2018). https://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/arrears
"Arrears." West's Encyclopedia of American Law. . Retrieved November 15, 2018 from Encyclopedia.com: https://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/arrears