Juridical Dictionary

This dictionary contains:
8526
juridical terms

Insolvent




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.

RELATED TERMS
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Person
This word is applied to men, women and children, who are called natural persons.

Estate
A right or interest in property or the property of a deceased person.

Said
Before mentioned.

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.

Present
A gift, or wore properly the thing given. It is provided by the constitution of the United States, that "no person holding any office of profit or trust under them, [the United States] shall, without the consent of congress, accept of any present, emolument, or office, or title of any kind whatever, from any king, prince, or foreign state."

Answer
Practice. The declaration of a fact by a witness after a question has been put asking for it.

Ordinary
Civil and Ecclesiastical law. An officer who has original jurisdiction in his own right and not by deputation.

Course
The direction in which a line runs in surveying.

Responsibility
The obligation to answer for an act done, and to repair any injury it may have caused

Legal
That which is according to law. It is used in opposition to equitable, as the legal estate is, in the trustee, the equitable estate in the cestui que trust.

Without
Pleading. This word is adopted in formal traverses, and is a negative signifying "and not for;" accordingly the language of the elder entries sometimes is, It et nemy pur tiel cause.

Reference
1) Contracts. An agreement to submit to certain arbitrators, matters in dispute between two or more parties, for their decision, and judgment. The persons to whom such matters are referred are sometimes called referees. 2) Mercantile law. A direction or request by a party who asks a credit to the person from whom he expects it, to call on some other person named in order to ascertain the character or mercantile standing of the former. 3) Practice. The act of sending any matter by a court of chancery or one exercising equitable powers, to a master or other officer, in order that he may ascertain facts and report to the court. By reference is also understood that part of an instrument of writing where it points to another for the matters therein contained.

When
1) At which time, in wills, standing by itself unqualified and unexplained, this is a word of condition denoting the time at which the gift is to continence. 2) The context of a will may show that the word when is to be applied to the possession only, not to the vesting of a legacy; but to justify this construction, there must be circumstances, or other expressions in the will, showing such to have been the testator's intent.

Wound
Medical jur. This term, in legal medicine, comprehends all lesions of the body, and in this it differs from the meaning of the word when used in surgery. The latter only refers to a solution of continuity, while the former comprises not only these, but also every other kind of accident, such as bruises, contusions, fractures, dislocations, and the like.

Property
Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property.

General
1) A principal officer, particularly in the army. 2) Something opposed to special; as, a general verdict, the general issue, which expressions are used in contradistinction to special verdict, special issue. 3) Principal, as the general post office. 4) Not select, as a general ship. 5) Not particular, as a general custom. 5) Not limited, as general jurisdiction. 7) This word is sometimes annexed or prefixed to other words to express or limit the extent of their signification; as Attorney General, Solicitor General, the General Assembly.

Assignment
The release by an afdc recipient of all rights to support arrearages owed the recipient and of the right to receive current child support as the result of the receipt of afdc.

Application
The primary step in all divorce proceedings and court order. (the standard forms are available from the court office.

Relief
1) English law. A relief was an incident to every feudal tenure, by way of fine or composition with the lord for taking up the estate which was lapsed or fallen in by the death of the last tenant. 2) Practice. That assistance which a court of chancery will lend to a party to annul a contract tinctured with fraud, or where there has been a mistake or accident; courts of equity grant relief to all parties in cases where they have rights and modify and fashion that relief according to circumstances.

Bankrupt
French banque, a table or counter; route, trace, track: his "banque" was removed and no trace of it left. Italian banca rotta, a broken bench: a money-changer's bench was broken up, on his failing in business. A trader who secretes himself, or does certain other acts tending to defraud his creditors. Bankruptcy is a proceeding of an equitable nature - a sequestration of a debtor's property that the creditors may resort to, instead of an ordinary suit at law or in equity.



SIMILAR TERMS
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Insolvency
The state or condition of a person who is insolvent.



PREVIOUS AND NEXT TERMS
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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
The state or condition of a person who is insolvent.

Insolvent

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.

Instalment
1) Instalment or installation. The act by which an officer is put in public possession of the place he is to fill. 2) Contracts. A part of a debt due by contract, and agreed to be paid at a time different from that fixed for the, payment of the other part.

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This dictionary contains 8526 terms.







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