Legal Definition and Related Resources of Solvency
Meaning of Solvency
The ability to pay all debts or just claims; generally solvency is determined by the standard of whether one owns more than he owes, even if what he owns cannot be subject to legal process . See Ferguson v Atlanta Newspapers, 85 S.£.2d 72, 91 Ga.App. 115.
Solvency Alternative Definition
The state of a person who is able to pay all his debts; the opposite of “insolvency” (g. v.) Imports adequate means of a person to pay his debts, which embraces within its meaning the opportunity by reasonable diligence to convert and apply to such purpose. In other words, a person is deemed insolvent who at the time in question is unable to pay his debts in the ordinary course of business. It means that the debtor is in such a condition that the demand may be collected out of his property by due course of law. Ability to raise money on credit for the payment of debts does not cotastitute solvency. 13 Wend. (N. Y.) 375, 377; 4 Hill (N. Y.) 650.
Related Entries of Solvency in the Encyclopedia of Law Project
Browse or run a search for Solvency in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Solvency in Historical Law
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Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Solvency in the Legal Abbreviations and Acronyms Dictionary.
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| Resource | Description |
|---|---|
| Solvency in the Dictionary | Solvency in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Solvency |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
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| Related topics | Solvency in the World Encyclopedia of Law |
Notice
This definition of Solvency is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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Solvency Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Solvency in a way that is easy for anybody to understand: State of being able to meet maturing OBLIGATIONS as they come due.
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