Solvency

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Solvency

The ability of an individual to pay his or her debts as they mature in the normal and ordinary course of business, or the financial condition of owning property of sufficient value to discharge all of one's debts.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

solvency

n. 1) having sufficient funds or other assets to pay debts. 2) having more assets than liabilities (debts). The contrast is "insolvency," which may be a basis for filing a petition in bankruptcy. (See: insolvency, bankruptcy)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

SOLVENCY. The state of a person who is able to pay all his debts; the opposite of insolvency. (q.v.)

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.