| slovo | definícia |
Act of insolvency
(gcide) | Insolvent \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.
[1913 Webster]
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.
[1913 Webster] |
Act of insolvency
(gcide) | Insolvency \In*sol"ven*cy\, n.; pl. Insolvencies. (Law)
(a) The condition of being insolvent; the state or
condition of a person who is insolvent; the condition
of one who is unable to pay his debts as they fall
due, or in the usual course of trade and business; as,
a merchant's insolvency.
(b) Insufficiency to discharge all debts of the owner; as,
the insolvency of an estate.
[1913 Webster]
Act of insolvency. See Insolvent law under Insolvent,
a.
[1913 Webster] |
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