One of the mysteries of the English language finally explained.
1Ability or willingness to pay; (also of a debt, sum of money, etc.) the quality of having to be paid.
2Mining. Of a mine or mining area: the capacity to be worked profitably.
3More generally: the quality of being profitable or remunerative.
Early 19th century; earliest use found in Blackwood's Magazine. From payable + -ity: see -bility.
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