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English definition of “owe”

owe

verb [T]     /əʊ/
FINANCE, COMMERCE to need to pay or give something to someone because they have lent money to you: owe sb $5/$500, etc. I owe you £200. How much do we owe the bank? He claims the firm owes him money.owe $5/$500, etc. to sb The company owes $618 million to its creditors.owe $100/$1000, etc. on sth We still owe $1000 on our car.owe $100/$1000, etc. in sth The government alleges that he owes $54 million in unpaid taxes.
to have had someone help you or do something good for you, so that you should do something similar for them: He owes you a favor for helping him with the project.owe sb (one) Thanks - I owe you one!
(Definition of owe verb from the Cambridge Business English Dictionary © Cambridge University Press)
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