BANKRUPTED
Verb
bankrupted
simple past tense and past participle of bankrupt
Source: Wiktionary
BANKRUPT
Bank"rupt, n. Etym: [F. banqueroute, fr. It. bancarotta bankruptcy;
banca bank (fr. OHG. banch, G. bank, bench) + rotta broken, fr. L.
ruptus, p.p. of rumpere to break. At Florence, it is said, the
bankrupt had his bench ( i.e., money table) broken. See 1st Bank, and
Rupture, n.]
1. (Old Eng. Low)
Definition: A trader who secretes himself, or does certain other acts
tending to defraud his creditors. Blackstone.
2. A trader who becomes unable to pay his debts; an insolvent trader;
popularly, any person who is unable to pay his debts; an insolvent
person. M
3. (Law)
Definition: A person who, in accordance with the terms of a law relating to
bankruptcy, has been judicially declared to be unable to meet his
liabilities.
Note: In England, until the year 1861 none but a "trader" could be
made a bankrupt; a non-trader failing to meet his liabilities being
an "insolvent". But this distinction was abolished by the Bankruptcy
Act of 1861. The laws of 1841 and 1867 of the United States relating
to bankruptcy applied this designation bankrupt to others besides
those engaged in trade.
Bank"rupt, a.
1. Being a bankrupt or in a condition of bankruptcy; unable to pay,
or legally discharged from paying, one's debts; as, a bankrupt
merchant.
2. Depleted of money; not having the means of meeting pecuniary
liabilities; as, a bankrupt treasury.
3. Relating to bankrupts and bankruptcy.
4. Destitute of, or wholly wanting (something once possessed, or
something one should possess). "Bankrupt in gratitude." Sheridan.
Bankrupt law, a law by which the property of a person who is unable
or unwilling to pay his debts may be taken and distributed to his
creditors, and by which a person who has made a full surrender of his
property, and is free from fraud, may be discharged from the legal
obligation of his debts. See Insolvent, a.
Bank"rupt, v. t. [imp. & p. p. Bankrupted; p. pr. & vb. n.
Bankrupting.]
Definition: To make bankrupt; to bring financial ruin upon; to impoverish.
Source: Webster’s Unabridged Dictionary 1913 Edition