I don't understand why if someone says "I am in your debt" it seems to mean the opposite of the literal meaning.
The person saying this says that they are in the debt of the person the phrase is directed to. A debt being "an obligation owed by one party (the debtor) to a second party".
So, if the first party says they are in the second party's debt, then should that not mean that the second party owes the first party something?
I totally understand that this isn't what it means... whereas this is the correct meaning...
I am indebted to you
Am I wrong? Or is the phrase "I am in your debt" totally wrong and misunderstood through relaxation of the term "I am indebted to you"?