Meaning of INSOLVENT
| Pronunciation: | | in'sâlvunt
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 WordNet Dictionary |
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- [n] someone who has insufficient assets to cover their debts
- [adj] unable to meet or discharge financial obligations; "an insolvent person"; "an insolvent estate"
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| | Synonyms: | | bankrupt, bankrupt |
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| | Antonyms: | | solvent | | |
| | See Also: | | failure, loser, nonstarter, unsuccessful person | |
| Webster's 1913 Dictionary |
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\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.
\In*sol"vent\, n. (Law)
One who is insolvent; as insolvent debtor; -- in England,
before 1861, especially applied to persons not traders.
--Bouvier.
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| Legal Dictionary |
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| | Definition: | | When the total debt of an entity is greater than all of its property. |
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| | Related Terms: | | bankrupt, broke, broken, busted, destitute, down-and-out, failed, failure, fortuneless, homeless, impoverished, in Queer Street, in receivership, in the gutter, in the red, indebted, insolvent debtor, lame duck, landless, moneyless, on the rocks, out of funds, penniless, propertyless, ruined, unsound, wiped out, without a sou |
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