Bankrupt

[from L. Fr. banke, Lat. bancus, a bench, table or counter; and roupt or rout, Lat. ruptus, broken.] In English law. A trader who secretes himself, or does certain other acts tending to defraud his creditors.

2 Bl. Com. 285, 471.

See Act of Bankruptcy, Trader. The term bankrupt had its origin in the incidents of trade and commerce, and has come down to us in that connection, and through the medium of the laws.

Bronson, J., 5 Hill's N. Y. Rep. 343.

Its origin indeed is sufficiently indicated by its etymology, — the French or Norman banke and banque, and the Latin bancus having been used from a very early period to signify a bench, table or counter on which goods were exposed for sale, or money for exchange, thus denoting the occupation of a trader, a dealer in wares or merchandise, a merchant, a money changer, or banker in the strict sense of the word. See Bancus. The word bankrupt occurs for the first time in the title of the statute 34 and 35 Hen. VIII.