BANKRUPTCY

bankruptcy

(noun) a legal process intended to insure equality among the creditors of a corporation declared to be insolvent

bankruptcy, failure

(noun) inability to discharge all your debts as they come due; “the company had to declare bankruptcy”; “fraudulent loans led to the failure of many banks”

bankruptcy

(noun) a state of complete lack of some abstract property; “spiritual bankruptcy”; “moral bankruptcy”; “intellectual bankruptcy”

Source: WordNet® 3.1


Etymology

Noun

bankruptcy (countable and uncountable, plural bankruptcies)

A legally declared or recognized condition of insolvency of a person or organization.

Source: Wiktionary


Bank"rupt*cy, n.; pl. Bankruptcies(

1. The state of being actually or legally bankrupt.

2. The act or process of becoming a bankrupt.

3. Complete loss; -- followed by of.

Source: Webster’s Unabridged Dictionary 1913 Edition



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Word of the Day

29 March 2024

FAULTFINDING

(adjective) tending to make moral judgments or judgments based on personal opinions; “a counselor tries not to be faultfinding”


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Coffee Trivia

In the 16th century, Turkish women could divorce their husbands if the man failed to keep his family’s pot filled with coffee.

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