INSOLVENCY

insolvency

(noun) the lack of financial resources

Source: WordNet® 3.1

Etymology

Noun

insolvency (countable and uncountable, plural insolvencies)

The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business.

Insufficiency to discharge all debts of the owner.

The condition of having more debts than assets.

Antonyms

• solvency

Source: Wiktionary

In*sol"ven*cy, n.; pl. Insolvencies (. (Law) (a) The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business; as, a merchant's insolvency. (b) Insufficiency to discharge all debts of the owner; as, the insolvency of an estate. Act of insolvency. See Insolvent law under Insolvent, a.

Source: Webster’s Unabridged Dictionary 1913 Edition

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