An account is stated to be in arrears if the debt, liability, or responsibility predicted is overdue. If one or extra bills were overlooked in transactions in which normal bills are contractually required, inclusive of loan or hire bills and software or smartphone bills, the account is In arrears.
Final answer:-
Arrears is the legal term for a part of a debt that’s once due owing to the failure to make one or further necessary payments. The quantum due in arrears is the quantum outstanding since the first missed payment’s due date.
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