Failing circumstances
Black's Law Dictionary · Henry Campbell Black, M.A. · 1910
Black's Law Dictionary
A person (or a corporation or instifution) is snid to be in failing circumstances when he is about to fail, that is, when he is actually insolvent and is acting in contemplation of giving up his business because he is unable to carry it on.
Appeal of Millard, 62 Co.nn. 184, 25 Atl. 658; Utley v. Smith, 24 Co.nn. 310, 63 AmDec. 163; Dodge v. Mastin (C. C.) 17 Fed'. 663.