Bankrupt

6 definitions found

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  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.
        [1913 Webster]
  


     2. Depleted of money; not having the means of meeting
        pecuniary liabilities; as, a bankrupt treasury.
        [1913 Webster]
  
     3. Relating to bankrupts and bankruptcy.
        [1913 Webster]
  
     4. Destitute of, or wholly wanting (something once possessed,
        or something one should possess). "Bankrupt in gratitude."
        --Sheridan.
        [1913 Webster]
  
     {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.
        [1913 Webster]

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  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. Law) A trader who secretes himself, or does
        certain other acts tending to defraud his creditors.
        --Blackstone.
        [1913 Webster]
  
     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.
        [1913 Webster]
  
     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.
        [1913 Webster]
  
     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.
           [1913 Webster]

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  Bankrupt \Bank"rupt\, v. t. [imp. & p. p. {Bankrupted}; p. pr. &
     vb. n. {Bankrupting}.]
     To make bankrupt; to bring financial ruin upon; to
     impoverish.
     [1913 Webster]

From WordNet (r) 2.0 [wn]:

  bankrupt
       adj : financially ruined; "a bankrupt company"; "the company went
             belly-up" [syn: {belly-up(p)}]
       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!"; "The slump in the financial markets
           smashed him" [syn: {ruin}, {break}, {smash}]

From Moby Thesaurus II by Grady Ward, 1.0 [moby-thes]:

  117 Moby Thesaurus words for "bankrupt":
     almsman, almswoman, also-ran, ausgespielt, bankrupt in, bare,
     bare of, beggar, bereft of, blasted, blighted, break, broke,
     broken, bust, busted, casual, charity case, denudate, denude,
     denuded of, deprive, deprived of, desolated, destitute,
     destitute of, destroyed, devastated, devoid of, dilapidate,
     dismantle, disrobe, divest, done for, done in, down-and-out,
     down-and-outer, drain, draw, draw down, dud, empty of, exhaust,
     failed, failure, fallen, false alarm, finished, flop, fold up,
     for want of, forlorn of, fortuneless, gone to pot, hardcase,
     homeless, impair, impoverish, in default of, in receivership,
     in ruins, in the gutter, in the red, in want of, incapacitate,
     indigent, insolvent, insolvent debtor, irremediable, kaput,
     lacking, lame duck, landless, loser, missing, moneyless, needing,
     on the rocks, out of, out of funds, out of pocket, overthrown,
     pauper, pauperize, penniless, penniless man, poor devil, poor man,
     poorling, propertyless, ravaged, reduce, ruin, ruined, ruinous,
     scant of, scuttle, shipwreck, short, short of, shy, shy of, sink,
     spoiled, starveling, unblessed with, undone, unpossessed of,
     use up, void of, wanting, washout, wasted, welfare client,
     without a sou, wreck, wrecked
  
  

From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  BANKRUPT. A person who has done, or suffered some act to be done, which is 
  by law declared an act of bankruptcy; in such case he may be declared a 
  bankrupt. 
       2. It is proper to notice that there is much difference between a 
  bankrupt and an insolvent. A man may be a bankrupt, and yet be perfectly 
  solvent; that is, eventually able to pay all his debts or, he may be 
  insolvent, and, in consequence of not having done, or suffered, an act of 
  bankruptcy. He may not be a bankrupt. Again, the bankrupt laws are intended 
  mainly to secure creditors from waste, extravagance, and mismanagement, by 
  seizing the property out of the hands of the debtors, and placing it in the 
  custody of the law; whereas the insolvent laws only relieve a man from 
  imprisonment for debt after he has assigned his property for the benefit of 
  his creditors. Both under bankrupt and insolvent laws the debtor is required 
  to surrender his property, for the benefit of his creditors. Bankrupt laws 
  discharge the person from imprisonment, and his property, acquired after his 
  discharge, from all liabilities for his debts insolvent laws simply 
  discharge the debtor from imprisonment, or liability to be imprisoned, but 
  his after-acquired property may be taken in satisfaction of his former 
  debts. 2 Bell, Com. B. 6, part 1, c. 1, p. 162; 3 Am. Jur. 218.