Definition of Insolvint
In*sol"vent (?), a. [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) One
who is insolvent; as insolvent debtor; -- in England, before 1861,
especially applied to persons not traders. Bouvier.
- Webster's Unabridged Dictionary (1913)
- of or pertaining to bankruptcy
- The Nuttall Encyclopedia
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