bankrupt

bankrupt, adj. Indebted beyond the means of payment; insolvent. — Also spelled (archaically) bankerout; bankrout. — bankrupt, vb.

bankrupt, n.

1. A person who cannot meet current financial obligations; an insolvent person. • This term was used in bankruptcy statutes until 1979, and is still commonly used by nonbankruptcy courts. But the Bankruptcy Code uses debtor instead of bankrupt.

2. DEBTOR(2).

cessionary bankrupt. Archaic. A person who forfeits all property so that it may be divided among creditors. • For the modern near-equivalent, see CHAPTER7. [Cases: Bankruptcy 2221. C.J.S. Bankruptcy § 45.]

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词条贡献者

法律翻译Scott，毕业于新加坡知名法学院，专注翻译各类与豪华住宅买卖有关的法律文件。