Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Ballentine's Law Dictionary

    The condition of one in a state of insolvency; one in such condition.

  • Black's Law Dictionary: 2nd Edition

    One who cannot or does not pay; one who is unable to pay his debts; one who is not solvent; one who has not means or property sufficient to pay his debts. See Insolvency.
    —Insolvent law. A term applied to a law, usually of one of the states, regulating the settlement of insolvent estates, and according a certain measure of relief to insolvent debtors. Co.ok v. Rogers, 31 Mich. 396; Adams v. Storey, 1 Fed. Cas. 141; Vanuxem v. Hazelhursts, 4 N. J. Law, 195, 7 Am. Dec. 582.