insolvency[in säl′vən sē]
When a business owes so much money it cannot pay it back, this is an example of insolvency.
- The condition of being insolvent.
- An instance of being insolvent.
- 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.
- Insufficiency to discharge all debts of the owner; as, the insolvency of an estate.
- The condition of having more debts than assets.
insolvent + -cy
insolvency - Investment & Finance Definition
The condition of being unable to pay debts that are due. An insolvent person or company is likely to end up in bankruptcy.
insolvency - Legal Definition