insolvent
/in'sɔlvənt/
Học thuậtThân thiện
Definition
- Adjective:
- Financially unable to pay debts: Describes a person, company, or estate that does not have enough money or assets to pay what is owed. It indicates a state of financial failure where liabilities exceed assets.
- Noun:
- A person or entity that cannot pay its debts: Refers to an individual or organization that has been declared or is legally recognized as being unable to meet its financial obligations.
Usage Examples
- Adjective:
- The court declared the company insolvent after it failed to pay its creditors.
- He became insolvent following a series of poor business investments.
- Noun:
- The law provides certain protections for the insolvent.
- The trustee was appointed to manage the affairs of the insolvent.
Advanced Usage
- "To be rendered insolvent": To be caused to become unable to pay debts.
- The sudden lawsuit rendered the small business insolvent.
- "Insolvent estate": The total assets and liabilities of a deceased person that are insufficient to pay all debts and legacies.
- The executor had to manage an insolvent estate, paying creditors in a legally defined order.
Variants and Related Words
- Insolvency (n): The state of being insolvent; financial failure.
- The company filed for bankruptcy due to insolvency.
- Solvent (adj): The opposite state; having enough assets to cover all debts.
- A solvent company can easily meet its financial commitments.
Synonyms
- Bankrupt: Legally declared unable to pay debts and often under court protection.
- Penniless: Having no money (often a result, but not the legal definition).
- Impecunious: Having little or no money.
Antonyms
- Solvent: Financially sound and able to pay all debts.
- Creditworthy: Considered suitable to receive credit because of a history of paying debts.
Adjective
- unable to meet or discharge financial obligations
- an insolvent person
- an insolvent estate
Noun
- someone who has insufficient assets to cover their debts