insolvency

  1. Noun.  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.
  2. Noun.  Insufficiency to discharge all debts of the owner; as, the insolvency of an estate.
  3. Noun.  The condition of having more debts than assets.

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