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Bankrupt   /bˈæŋkrəpt/   Listen
adjective
Bankrupt  adj.  
1.
Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant.
2.
Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury.
3.
Relating to bankrupts and bankruptcy.
4.
Destitute of, or wholly wanting (something once possessed, or something one should possess). "Bankrupt in gratitude."
Bankrupt law, a law by which the property of a person who is unable or unwilling to pay his debts may be taken and distributed to his creditors, and by which a person who has made a full surrender of his property, and is free from fraud, may be discharged from the legal obligation of his debts. See Insolvent, a.


noun
Bankrupt  n.  
1.
(Old Eng. Law) A trader who secretes himself, or does certain other acts tending to defraud his creditors.
2.
A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person.
3.
(Law) A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities. Note: In England, until the year 1861 none but a "trader" could be made a bankrupt; a non-trader failing to meet his liabilities being an "insolvent". But this distinction was abolished by the Bankruptcy Act of 1861. The laws of 1841 and 1867 of the United States relating to bankruptcy applied this designation bankrupt to others besides those engaged in trade.


verb
Bankrupt  v. t.  (past & past part. bankrupted; pres. part. bankrupting)  To make bankrupt; to bring financial ruin upon; to impoverish.





Collaborative International Dictionary of English 0.48


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"Bankrupt" Quotes from Famous Books



... liquidate the accounts, the Pope has granted permission, at the end of the year, for masses to be said, each, one of which is of the value of a thousand; in this fashion Saint Anthony is saved from being bankrupt to his ...
— Seeing Europe with Famous Authors, Vol VIII - Italy and Greece, Part Two • Various
... truthful reply of a student in Physics to the question, "Why do we believe Newton's Laws of Motion?" Or sometimes an essential transition is omitted; "At the period of the Roman conquest the Greeks were politically hopeless, economically bankrupt, and morally corrupt. They became teachers." But sometimes it is the caprice of the English language which betrays them. "The events of the 15th century which most affected philosophic thought were the ...
— Lighted to Lighten: The Hope of India • Alice B. Van Doren
... the Museum collection there is inquiry after inquiry from Charles Cavendish,[577] first, as to when the Analogics, as he called them, would be finished; next, when they would be printed. Pell answers, in 1644, that Warner left his papers to a kinsman, who had become bankrupt, and proceeds thus: ...
— A Budget of Paradoxes, Volume II (of II) • Augustus de Morgan
... never before appreciated as I do to-day the latent capacity for big-hearted endurance that is in the heart of every man. Here are apparently quite ordinary chaps—chaps who washed, liked theatres, loved kiddies and sweethearts, had a zest for life—they're bankrupt of all pleasures except the supreme pleasure of knowing that they're doing the ordinary and finest thing of which they are capable. There are millions to whom the mere consciousness of doing their duty ...
— Carry On • Coningsby Dawson
... was made on the bankrupt bill of that session—not a regular speech, but a searching examination of the details of the bill, which he exposed with such effect that its friends substantially gave it up in despair. His first ...
— Discourse of the Life and Character of the Hon. Littleton Waller Tazewell • Hugh Blair Grigsby


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