Assets
Assets As"sets, n. pl. [OF. asez enough, F. assez, fr. L. ad + satis, akin to Gr. ? enough, Goth. saps full. Cf. {Assai}, {Satisfy}.] 1. (Law) (a) Property of a deceased person, subject by law to the payment of his debts and legacies; -- called assets because sufficient to render the executor or administrator liable to the creditors and legatees, so far as such goods or estate may extend. --Story. --Blackstone. (b) Effects of an insolvent debtor or bankrupt, applicable to the payment of debts. [1913 Webster]

2. The entire property of all sorts, belonging to a person, a corporation, or an estate; as, the assets of a merchant or a trading association; -- opposed to {liabilities}. [1913 Webster]

Note: In balancing accounts the assets are put on the Cr. side and the debts on the Dr. side. [1913 Webster]


The Collaborative International Dictionary of English. 2000.

Synonyms:
(particularly as compared with liabilities), , ,


Look at other dictionaries:

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