Insolvency
Insolvency , noun
(a)
(Law) 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)
(Law) Insufficiency to discharge all debts of the owner; as, the insolvency of an estate.
Collocations (1)
Act of insolvency , See Insolvent law under Insolvent, a.