INSOLVENCY

insolvency. Insolvency, n. an inability to discharge debts

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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.