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Insolvency
InsolvencyThe state or condition of a person who is insolvent. RELATED TERMS-------------------------------------- State 1) Government. In its most enlarged sense, it signifies a self-sufficient body of persons united together in one community for the defence of their rights, and to do right and justice to foreigners. In this sense, the state means the whole people united into one body politic; and the state, and the people of the state, are equivalent expressions. 2) Condition of persons. This word has various acceptations. If we inquire into its origin, it will be found to come from the Latin status, which is derived from the verb stare, sto, whence has been made statio, which signifies the place where a person is located, stat, to fulfil the obligations which are imposed upon him. Condition Persons. The situation in civil society which creates certain relations between the individual, to whom it is applied, and one or more others, from which mutual rights and obligations arise. Person This word is applied to men, women and children, who are called natural persons. Insolvent 1) It signifies a person whose estate is not sufficient to pay his debts. 2) A person is also said to be insolvent, who is under a present inability to answer, in the ordinary course of business, the responsibility which his creditors may enforce, by recourse to legal measures, without reference to his estate proving sufficient to pay all his debts, when ultimately wound up. 3) It signifies the situation of a person who has done some notorious act to divest himself of all his property, as a general assignment, or an application for relief, under bankrupt or insolvent laws. SIMILAR TERMS-------------------------------------- Insolvent 1) It signifies a person whose estate is not sufficient to pay his debts. 2) A person is also said to be insolvent, who is under a present inability to answer, in the ordinary course of business, the responsibility which his creditors may enforce, by recourse to legal measures, without reference to his estate proving sufficient to pay all his debts, when ultimately wound up. 3) It signifies the situation of a person who has done some notorious act to divest himself of all his property, as a general assignment, or an application for relief, under bankrupt or insolvent laws. PREVIOUS AND NEXT TERMS-------------------------------------- Insider trading Using business information not released to the public to reap profits trading in the financial markets. Insidiatores viarum Persons who lie in wait, in order to commi some felony or other misdemeanor. Insimul computassent Practice, actions. They accounted together. Insinuation Civil law. The transcription of an act on the public registers, like our recording of deeds. It was not necessary in any other alienation, but that appropriated to the purpose of donation. Insmul Together; jointly. This word is used in composition; as, insimulcomputassent; non tenent insimul. Insolvency Insolvent 1) It signifies a person whose estate is not sufficient to pay his debts. 2) A person is also said to be insolvent, who is under a present inability to answer, in the ordinary course of business, the responsibility which his creditors may enforce, by recourse to legal measures, without reference to his estate proving sufficient to pay all his debts, when ultimately wound up. 3) It signifies the situation of a person who has done some notorious act to divest himself of all his property, as a general assignment, or an application for relief, under bankrupt or insolvent laws. Inspection 1) Common law. The examination of certain articles made by law subject to such examination, so that they may be declared fit for commerce. The decision of the inspectors is not final; the object' of the law is to protect the community from fraud, and to preserve the character of the merchandise abroad. 2) Practice. Examination. Inspector The name given to certain officers whose duties are to examine and inspect things over which they have jurisdiction. Inspeximus We have seen. A word sometimes used in letters-patent, reciting a grant, inspeximus such former grant, and so reciting it verbatim; it then grants such further privileges as are thought convenient. Installation Installation or instalment. The act by which an officer is put in public possession of the place he is to fill. We thank you for using the Juridical Dictionary to search for Insolvency. If you have a better definition for Insolvency than the one presented here, please let us know by making use of the suggest a term option. This definition of Insolvency may be disputed by other professionals. Our attempt is to provide easy definitions on Insolvency and any other medical topic for the public at large.
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