PA'YABLE, adjective That may or ought to be paid. In general, money is payable as soon as it is due, or at the time payment is stipulated, or at the expiration of the credit; but by the usage of merchants, three or more days of grace are allowed to the debtor, and a note due at the day when payment is promised, is not payable till the expiration of the days of grace. 1. That can be paid; that there is power to pay. Thanks are a tribute payable by the poorest.
Source: Webster's 1828 American Dictionary ↗ · public-domain · returned verbatim, no AI