pay·a·ble / ˈpāəbəl/ • adj. 1. (of money) required to be paid; due: interest is payable on the money owing send a check, payable to the ASPCA.2. able to be paid: it costs just $195, payable in five monthly installments.• n. (payables) debts owed by a business; liabilities.
Justly due; legally enforceable.
A sum of money is said to be payable when a person is under an obligation to pay it. The term may therefore signify an obligation to pay at a future time, but when used without qualifi-cation, it ordinarily means that the debt is due to be paid immediately.