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more about insolvent
insolvent |
3 definitions found From Webster's Revised Unabridged Dictionary (1913) [web1913]: Insolvent \In*sol"vent\, n. (Law) One who is insolvent; as insolvent debtor; -- in England, before 1861, especially applied to persons not traders. --Bouvier. From Webster's Revised Unabridged Dictionary (1913) [web1913]: Insolvent \In*sol"vent\, a. [Pref. in- not + solvent: cf OF insolvent.] (Law) a Not solvent; not having sufficient estate to pay one's debts; unable to pay one's debts as they fall due, in the ordinary course of trade and business; as in insolvent debtor. b Not sufficient to pay all the debts of the owner; as an insolvent estate. c Relating to persons unable to pay their debts. {Insolvent law}, or {Act of insolvency}, a law affording relief, -- subject to various modifications in different States, -- to insolvent debtors, upon their delivering up their property for the benefit of their creditors. See {Bankrupt law}, under {Bankrupt}, a. From WordNet r 1.6 [wn]: insolvent adj : unable to meet or discharge financial obligations; "an insolvent person"; "an insolvent estate" [ant: {solvent}] n : someone who has insufficient assets to cover their debts [syn: {bankrupt}]
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