Webster's Revised Unabridged Dictionary · 1913

Payable

Payable , adjective

[Compare French payable. Compare Pacable.]

1.
That may, can, or should be paid; suitable to be paid; justly due. — Drayton
Thanks are a tribute payable by the poorest. — South
2.
(a) (Law) That may be discharged or settled by delivery of value.
(b)
(Law) Matured; now due.