Solvency

The pecuniary condition of a person who has means and resources adequate for the payment of his debts. Solvent: possessed of property enough for payment of one's debtors. These terms are satisfied, according to the more recent New York decisions, if the assets of the person mentioned are enough to cover his debts, so that any valid demand against him can be collected by due course of law. They do not require that he should at all times have money on hand for payment of every demand on presentation, according to the usual course of business; nor even that his pecuniary condition should be such as to enable him to raise money promptly, on credit for payment of debts. A person is solvent who owns property enough and so situated that all his debts can be collected from it by legal proceedings. Hufiman o.

Hulbert, 13 Wend. 377; Herrick v. Borst, 4 Hill (N. y.), 650; People v. Halsey, 53 Barb. 547.

That solvent means, able to pay one's debts in full out of one's own present means, see i Hill {N. F.), 652. It is true that " insolvency " and " inability to pay " are synonymous; but solvency does not mean ability to pay at all times, under all circumstances, and everywhere, on demand, nor does it require that a person should have In his possession the amount of money necessary to pay all claims against him.

Walkenshaw v. Perzel, 4 Robt. 426.

Solvit ad diem

He paid at the day, i.e. punctually.

Solvit post diemi

He paid after the day. The Latin names of two pleas formerly in use, by which defendant in an action of debt averred that he had paid the money now demanded, on the day when it fell due; or, what was much the same thing in effect, that he had paid it after the day named in the deed, but before suit brought.