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
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
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