01 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 a…
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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.(Law)
Phrases & compounds
Insolvent law —
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.