A claim with a specified sum owed is called what?

A claim with a specified sum owed is called what?

• A. Unspecified claim
• B. Admitted claim
• C. Default claim
• D. Specified claim

Answer: (D)

The main idea here is distinguishing when a claim involves a definite, fixed amount. When the sum owed is stated precisely, the claim is described as a specified claim. This matters because the exact amount is known from the outset, making the dispute about a concrete figure rather than the amount needing to be determined later.

Think of it this way: if a debtor owes a particular sum, you can enforce that exact amount in court without awaiting further assessment. In contrast, an unspecified (or unliquidated) claim would involve an amount that isn’t fixed yet and may require calculation or trial to determine the final figure. An admitted claim concerns liability (whether the debtor is at fault) rather than the amount, and a default claim isn’t the standard term for this concept. So the correct description for a claim with a set sum owed is a specified claim.