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v. owed, ow·ing, owes
1. To be indebted to the amount of: He owes me five dollars.
2. To have a moral or legal obligation to render or offer: I owe them an apology.
3. To be in debt to: We owe the plumber for services rendered.
4. To be indebted or obliged for: owed their riches to oil; owes her good health to diet and exercise.
5. To bear (a certain feeling) toward a person or persons: You seem to owe your neighbors a grudge.
6. Archaic To have as a possession; own.
To be in debt: She still owes for the car.

[Middle English owen, from Old English āgan, to possess; see aik- in Indo-European roots.]
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References in classic literature ?
The farmer hung his head, and without a word untied his servant, of whom Don Quixote asked how much his master owed him.
Fogg proceeded to pay the guide the price agreed upon for his service, and not a farthing more; which astonished Passepartout, who remembered all that his master owed to the guide's devotion.
The parting of Aouda, who did not forget what she owed to Sir Francis, betrayed more warmth; and, as for Passepartout, he received a hearty shake of the hand from the gallant general.
James Grant was a journeymen carpenter who did not always pay his bills and who owed Maria three dollars.
In doing this he would satisfy everybody - the grocer, his sister, Ruth, and even Maria, to whom he owed a month's room rent.
He owed somebody two dollars and a half, that was certain, but who was it?
Ever the heap grew, and though each bill was duplicated a thousand times, he found only one for two dollars and a half, which was what he owed Maria.
And in examining their actions and lives one cannot see that they owed anything to fortune beyond opportunity, which brought them the material to mould into the form which seemed best to them.
Privatization Secretary told the committee that 97 percent owed balance has been recovered.
And businesses across the region owed more than PS54,000 in total.
Ronald McConnachie Trading as Bay Newsagents, Wemyss Bay, Renfrewshire, owed PS12,527 to three workers.