Bankrupt law
Bankrupt Bank"rupt, a. 1. Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant. [1913 Webster]

2. Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury. [1913 Webster]

3. Relating to bankrupts and bankruptcy. [1913 Webster]

4. Destitute of, or wholly wanting (something once possessed, or something one should possess). ``Bankrupt in gratitude.'' --Sheridan. [1913 Webster]

{Bankrupt law}, a law by which the property of a person who is unable or unwilling to pay his debts may be taken and distributed to his creditors, and by which a person who has made a full surrender of his property, and is free from fraud, may be discharged from the legal obligation of his debts. See {Insolvent}, a. [1913 Webster]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • bankrupt — bank·rupt 1 / baŋ ˌkrəpt/ n: a debtor (as an individual or organization) whose property is subject to administration under the bankruptcy laws for the benefit of the debtor s creditors was adjudicated a bankrupt see also debtor bankrupt 2 adj:… …   Law dictionary

  • Bankrupt — Bank rupt, a. 1. Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one s debts; as, a bankrupt merchant. [1913 Webster] 2. Depleted of money; not having the means of meeting pecuniary liabilities; …   The Collaborative International Dictionary of English

  • bankrupt — a debtor, who has volunteered or been forced to appear before a Bankruptcy Court and has been judged insolvent, because s/he has insufficient assets to meet the demands of all creditors. Glossary of Business Terms * * * ▪ I. bankrupt bank‧rupt 1… …   Financial and business terms

  • Bankrupt — Bank rupt, n. [F. banqueroute, fr. It. bancarotta bankruptcy; banca bank (fr. OHG. banch, G. bank, bench) + rotta broken, fr. L. ruptus, p. p. of rumpere to break. At Florence, it is said, the bankrupt had his bench (i.e., money table) broken.… …   The Collaborative International Dictionary of English

  • bankrupt — ► ADJECTIVE 1) declared in law unable to pay one s debts. 2) completely lacking in a particular good quality or value: morally bankrupt. ► NOUN ▪ a person legally declared as bankrupt. ► VERB ▪ reduce to a bankrupt state. DERIVATIVES …   English terms dictionary

  • bankrupt — /ˈbæŋkrʌpt / (say bangkrupt) noun 1. Law a person who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court, and whose property is therefore to be administered by a trustee for the benefit of the creditors… …   Australian English dictionary

  • bankrupt — /bangk rupt, reuhpt/, n. 1. Law. a person who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court and whose property is administered for and divided among his or her creditors under a bankruptcy law. 2.… …   Universalium

  • bankrupt — [[t]bæ̱ŋkrʌpt[/t]] bankrupts, bankrupting, bankrupted 1) ADJ People or organizations that go bankrupt do not have enough money to pay their debts. If the firm cannot sell its products, it will go bankrupt... He was declared bankrupt after failing …   English dictionary

  • bankrupt — I. noun Etymology: modification of Middle French & Old Italian; Middle French banqueroute bankruptcy, from Old Italian bancarotta, from banca bank + rotta broken, from Latin rupta, feminine of ruptus, past participle of rumpere to break more at… …   New Collegiate Dictionary

  • bankrupt — bank•rupt [[t]ˈbæŋk rʌpt, rəpt[/t]] n. 1) law a person who is adjudged insolvent by a court and whose property is divided among creditors under the bankruptcy laws 2) any insolvent debtor; a person unable to satisfy any just claims made upon him… …   From formal English to slang

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