assets

  1. Noun.  (plural of, asset) .
  2. Noun.  (finance) Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts.
  3. Noun.  (legal) Sufficient estate; property sufficient in the hands of an executor or heir to pay the debts or legacies of the testator or ancestor to satisfy claims against it.
  4. Noun.  Any goods or property properly available for the payment of a bankrupt's or a deceased person's obligations or debts.

This is an unmodified, but possibly outdated, definition from Wiktionary and used here under the Creative Commons license. Wiktionary is a great resource. If you like it too, please donate to Wikimedia.

This entry was last updated on RefTopia from its source on 3/20/2012.