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bankrupt

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bankrupt


  4  definitions  found 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Bankrupt  \Bank"rupt\,  v.  t.  [imp.  &  p.  p.  {Bankrupted};  p.  pr  & 
  vb  n.  {Bankrupting}.] 
  To  make  bankrupt;  to  bring  financial  ruin  upon  to 
  impoverish. 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Bankrupt  \Bank"rupt\,  a. 
  1.  Being  a  bankrupt  or  in  a  condition  of  bankruptcy;  unable 
  to  pay  or  legally  discharged  from  paying,  one's  debts; 
  as  a  bankrupt  merchant. 
 
  2.  Depleted  of  money;  not  having  the  means  of  meeting 
  pecuniary  liabilities;  as  a  bankrupt  treasury. 
 
  3.  Relating  to  bankrupts  and  bankruptcy. 
 
  4.  Destitute  of  or  wholly  wanting  (something  once  possessed, 
  or  something  one  should  possess).  ``Bankrupt  in 
  gratitude.''  --Sheridan. 
 
  {Bankrupt  law},  a  law  by  which  the  property  of  a  person  who 
  is  unable  or  unwilling  to  pay  his  debts  may  be  taken  and 
  distributed  to  his  creditors,  and  by  which  a  person  who 
  has  made  a  full  surrender  of  his  property,  and  is  free 
  from  fraud,  may  be  discharged  from  the  legal  obligation  of 
  his  debts.  See  {Insolvent},  a. 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Bankrupt  \Bank"rupt\,  n.  [F.  banqueroute  fr  It  bancarotta 
  bankruptcy;  banca  bank  (fr.  OHG.  banch,  G.  bank,  bench)  + 
  rotta  broken,  fr  L.  ruptus  p.  p.  of  rumpere  to  break.  At 
  Florence,  it  is  said  the  bankrupt  had  his  bench  (  i.e., 
  money  table)  broken.  See  1st  {Bank},  and  {Rupture},  n.] 
  1.  (Old  Eng.  Low)  A  trader  who  secretes  himself,  or  does 
  certain  other  acts  tending  to  defraud  his  creditors. 
  --Blackstone. 
 
  2.  A  trader  who  becomes  unable  to  pay  his  debts;  an  insolvent 
  trader;  popularly,  any  person  who  is  unable  to  pay  his 
  debts;  an  insolvent  person.  --M?Culloch. 
 
  3.  (Law)  A  person  who  in  accordance  with  the  terms  of  a  law 
  relating  to  bankruptcy,  has  been  judicially  declared  to  be 
  unable  to  meet  his  liabilities. 
 
  Note:  In  England,  until  the  year  1861  none  but  a  ``trader'' 
  could  be  made  a  bankrupt;  a  non-trader  failing  to  meet 
  his  liabilities  being  an  ``insolvent''.  But  this 
  distinction  was  abolished  by  the  Bankruptcy  Act  of 
  1861.  The  laws  of  1841  and  1867  of  the  United  States 
  relating  to  bankruptcy  applied  this  designation 
  bankrupt  to  others  besides  those  engaged  in  trade 
 
  From  WordNet  r  1.6  [wn]: 
 
  bankrupt 
  adj  :  financially  ruined;  "a  bankrupt  company" 
  n  :  someone  who  has  insufficient  assets  to  cover  their  debts 
  [syn:  {insolvent}] 
  v  :  reduce  to  bankruptcy;  "My  daughter's  fancy  wedding  is  going 
  to  break  me!"  [syn:  {ruin},  {break}] 




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