Bankrupt

In English law, a trader who secretes himself or does certain other acta tending to defraud his creditors; in American law, in general and more loosely, any person who is unable to pay his debts; an insolvent. Bankrupt law: a law for the benefit of creditors of a bankrupt and for the I'elief of the bankrupt himself; a law which upon surrender by the bankrupt of all his property for the the will of the debtoi-; but in America, tion by either creditors or debtor.