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solvency definition - legal

n

The ability to pay oneÂ’s debts as they come due or as they mature. Implied is the ownership of property of adequate value to secure those debts, should the need arise. See also insolvency.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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