Insolvencies

1 definition found

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

  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.
            [1913 Webster]
  
     {Act of insolvency}. See {Insolvent law} under {Insolvent},
        a.
        [1913 Webster]