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Definitions for: Insolvent [n] someone who has insufficient assets to cover their debts
[adj] unable to meet or discharge financial obligations; "an insolvent person"; "an insolvent estate"
Webster (1913) Definition: 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.
Synonyms: bankrupt, bankrupt
Antonyms: solvent
See Also: failure, loser, nonstarter, unsuccessful person
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