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more about insolvency
insolvency |
2 definitions found From Webster's Revised Unabridged Dictionary (1913) [web1913]: 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. {Act of insolvency}. See {Insolvent law} under {Insolvent}, a. From WordNet r 1.6 [wn]: insolvency n : lacking financial resources [ant: {solvency}]
more about insolvency
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