What is the different between insolvent and insolventcy, bankcrupt and bankcruptcy?
Oct 22, 2012 8:54 AM
Answers · 4
* bankrupt = one who was unable to repay debts and whose property has been divided among his creditors * bankruptcy = state of losing property to one's creditors due to unpaid debts * insolvent =impoverished, unable to pay one's debts * insolvency =condition of being impoverished, inability to pay one's debts
October 22, 2012
Insolvent and Bankrupt may be used as ADJECTIVES (more often used) or NOUNS (rarely used) whereas Insolvency and Bankruptcy are NOUNS. **************************************************************************************** Insolvent / Bankrupt means : Adjective 1. a. Unable to meet debts or discharge liabilities; bankrupt. b. Insufficient to meet all debts, as an estate or fund. 2. Of or relating to bankrupt persons or entities. **************************************************************************************** n. A bankrupt person **************************************************************************************** But Insolvency / Bankruptcy means : 1. The condition of being insolvent. 2. An instance of being insolvent. ****************************************************************************************
October 22, 2012
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