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Insolvent   /ɪnsˈɑlvənt/   Listen
adjective
Insolvent  adj.  (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; bankruptcy law. See Bankrupt law, under Bankrupt, a.



noun
Insolvent  n.  (Law) One who is insolvent; as insolvent debtor; in England, before 1861, especially applied to persons not traders.






Collaborative International Dictionary of English 0.48








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"Insolvent" Quotes from Famous Books



... Religion, where so much is wanted and indispensable, and so little can as yet be furnished, probably Imposture is of sanative, anodyne nature, and man's Gullibility not his worst blessing. Suppose your sinews of war quite broken; I mean your military chest insolvent, forage all but exhausted; and that the whole army is about to mutiny, disband, and cut your and each other's throat,—then were it not well could you, as if by miracle, pay them in any sort of fairy-money, feed them on coagulated water, or mere imagination of ...
— Sartor Resartus, and On Heroes, Hero-Worship, and the Heroic in History • Thomas Carlyle

... the property of their master; for afterwards it is assumed that he may sell them, not as an ordinary right, but as the special penalty incurred by an insolvent debtor. A king, in ancient times and oriental regions, entered into pecuniary transactions with his servants on a great scale. One man, who owes all to the personal favour of the sovereign, is the governor of a wealthy province. Bound by no written law, and living ...
— The Parables of Our Lord • William Arnot

... "If such do occur, the man of honor dies when he cannot fulfil his word. But you—you do not wish to die. Oh no! You wish to break your word in order to live pleasantly. You wish to profit by your breach of promise. You wish to declare yourselves insolvent and cheat your creditors of their ...
— The Merchant of Berlin - An Historical Novel • L. Muhlbach

... mind, of a lofty aim, of a quiet conscience, of a filled and satisfied and therefore calmed heart; he that has the treasure of salvation; he that has the boundless wealth of God—-he has the bullion, while the poor rich people that have the material good have the scrip of an insolvent company, which is worth no more than the paper on which it is written. There are two currencies—one solid metal, the other worthless paper. The one is 'true riches,' and the ...
— Expositions Of Holy Scripture - Volume I: St. Luke, Chaps. I to XII • Alexander Maclaren

... securities, by the payment of one pound a year each, and if each had given security for 500l., it is obvious that two in each year might become defaulters to that amount, four to half the amount, and so on, without rendering the guarantee fund insolvent. If it be tolerably well ascertained that the instances of dishonesty (yearly) among such persons amount to one in five hundred, this club would continue to exist, subject to being in debt in a bad year, to an amount which it would be able to discharge ...
— Vestiges of the Natural History of Creation • Robert Chambers


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