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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



... been yielding a dividend far exceeding the interest on the loan, and which stock had been pledged for the redemption of the loan, was diverted to the building of a railroad, which never did or could yield a single dollar, and the company soon became insolvent. By another clause of this act of 1839, the Planters' Bank, which, by the loan act, was made responsible (together with the State) for the payment of these bonds, was released from the obligation to ...
— The Continental Monthly, Vol. IV. October, 1863, No. IV. - Devoted to Literature and National Policy. • Various

... could not for the life of him refrain from a soft curse or two. Neither of them could make anything of it—(as for Snap, they never showed it to him; it was not within his province—i. e. the Insolvent Debtors' Court, the Old Bailey, the Clerkenwell Sessions, the Police Offices, the inferior business of the Common Law Courts, and the worrying of the clerks of the office—a department in which he was ...
— Ten Thousand a-Year. Volume 1. • Samuel Warren

... tenant. It is a very common practice in Ireland to fix a rent for a tenant and to reduce that rent on the tenant executing certain improvements. No improving tenant, or one who pays his rent, is ever disturbed in possession of his farm—it is only the insolvent one that is put out, and by the time the landlord can obtain possession of the farm it is always in a most delapidated condition. An ejectment for non-payment of rent cannot be brought till a clear year's rent is due, and usually the tenant owes more before it is ...
— The Letters of "Norah" on her Tour Through Ireland • Margaret Dixon McDougall

... and it is said that we advocates get our money for nothing," he remarked, after a pause. "I have freed one insolvent debtor from a totally false charge, and now they all flock to me. Yet every such case costs enormous labour. Why, don't we, too, 'lose bits of flesh in the inkstand?' as some writer or other has said. Well, as to your case, or, ...
— Resurrection • Count Leo Tolstoy

... of war and all persons bought from foreigners were condemned to perpetual slavery. Others became slaves for limited periods,—freemen who married slaves, insolvent debtors, servants out of employment, and various other classes. As the legal interest of money was forty per cent., the enslavement of debtors must have been very common, and Russia was even then largely ...
— Historic Tales, Vol. 8 (of 15) - The Romance of Reality • Charles Morris


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