INSOLVENT

insolvent

(adjective) unable to meet or discharge financial obligations; “an insolvent person”; “an insolvent estate”

bankrupt, insolvent

(noun) someone who has insufficient assets to cover their debts

Source: WordNet® 3.1

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Etymology

Adjective

insolvent (comparative more insolvent, superlative most insolvent)

Unable to pay one's bills as they fall due.

Owing more than one has in assets.

Not sufficient to pay all the debts of the owner.

Synonyms

• See also impoverished

Antonyms

• solvent

Noun

insolvent (plural insolvents)

(legal) One who is insolvent; an insolvent debtor.

Usage notes

• In England, before 1861, especially applied to persons who were not traders.

Source: Wiktionary

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In*sol"vent, a. Etym: [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)

Definition: One who is insolvent; as insolvent debtor; -- in England, before 1861, especially applied to persons not traders. Bouvier.

Source: Webster’s Unabridged Dictionary 1913 Edition

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