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






Collaborative International Dictionary of English 0.48








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"Insolvency" Quotes from Famous Books



... may arise) is more likely to be avoided than any severe course towards the inhabitants: as the former fault was, besides the deprivation of office, attended with two imprisonments, with a menace of death, and an actual death, in disgrace, poverty, and insolvency; whereas the latter, namely, the oppression, and thereby the total ruin, of the country, charged on the second administrator, was only followed by loss of office,—although, he, the said Warren Hastings, did farther assert (but with what truth does ...
— The Works of the Right Honourable Edmund Burke, Vol. VIII. (of 12) • Edmund Burke

... unaided; an unthinkable convulsion had seized the world; panic had spread; even the bargain hunter was chilled by the unprecedented conditions; there were practically no buyers. A half hour's session of the Exchange that morning would have brought on a complete collapse in prices; a general insolvency of brokerage houses would have forced the suspension of all business; the banks, holding millions of unsaleable collateral, would have become involved; many big institutions would have failed and a run on savings banks would have begun. It ...
— The New York Stock Exchange in the Crisis of 1914 • Henry George Stebbins Noble

... creek, to a high part of the range about two miles off (which I have named Mount Gwynne, after his Honour, Justice Gwynne), 186 degrees. North side of the creek, to another hill about two miles and a half off (which I have named Mount Mann, in memory of the late Commissioner of Insolvency), 249 degrees. Central Mount Stuart bears 131 degrees to the highest point. At the north-west termination of the next range, to which I shall now go, there are two very large hills, the north one, which is the highest, I have named Mount Strzelecki, after Count Strzelecki, bearing 358 degrees. ...
— Explorations in Australia, The Journals of John McDouall Stuart • John McDouall Stuart

... of insolvency, or if any sentence of imprisonment is passed against the President, the Volksraad shall be able to dismiss ...
— Selected Official Documents of the South African Republic and Great Britain • Various

... privilege under which an unpaid consigner or broker may stop or countermand his goods upon their passage to the consignee on the insolvency ...
— The Sailor's Word-Book • William Henry Smyth

... ago—when, as I have said, the tide was very low—I was led to consider that passage, and under the influence of it I went to my creditors and delivered up to them your box of jewels. You are aware, no doubt, that having passed through the insolvency court, and given up all that I possessed, I became legally free. This box was recovered from the deep, and restored to me after my effects had been given up to my creditors, so that I might have retained it. But I felt that ...
— Under the Waves - Diving in Deep Waters • R M Ballantyne

... me. We do three years of military training; our children will do five, they will do ten. We pay two thousand million francs a year in preparation for war; we shall pay twenty, we shall pay fifty thousand millions. All that we have will be taken; it will be robbery, insolvency, bankruptcy. War kills wealth as it does men; it goes away in ruins and smoke, and one cannot fabricate gold any more than soldiers. We no longer know how to count; we no longer know anything. A billion—a million millions—the word appears to me printed ...
— Light • Henri Barbusse

... should exist in meeting their engagements on the part of the debtor States; apart from which, if there be taken into account the immense losses sustained in the dishonor of numerous banks, it is less a matter of surprise that insolvency should have visited many of our fellow-citizens than that so many should have escaped the blighting influences of ...
— A Compilation of the Messages and Papers of the Presidents: Tyler - Section 2 (of 3) of Volume 4: John Tyler • Compiled by James D. Richardson

... "Diary," and afterwards in his romances, beginning with "Crime and Punishment," Dostoevsky has something in common with Count L. N. Tolstoy. Both writers were disenchanted as to European progress, admitted the mental and moral insolvency of educated Russian society, and fell into despair, from which the only escape, so it seemed to them, was becoming imbued with the lively faith of the common people, and both authors regarded this faith as the sole means of getting into real communion with the people. ...
— A Survey of Russian Literature, with Selections • Isabel Florence Hapgood

... of all nations under the Southern flag; Northern manufactures would perish for lack of Southern raw material and Southern consumers; Northern banks would suspend, and Northern finances go into universal insolvency; the Southern ports would be opened forcibly by England and France, who must have cotton; the South would flourish in the struggle, and the ...
— Atlantic Monthly, Volume 7, Issue 42, April, 1861 • Various



Words linked to "Insolvency" :   bankruptcy, financial condition, solvency, failure, insolvent



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