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Bankruptcy - Dictionary Definition and Overview |
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Bankruptcy : (noun)
1: a state of complete lack of some abstract property;
"spiritual bankruptcy"; "moral bankruptcy";
"intellectual bankruptcy"
2: inability to discharge all your debts as they come due; "the
company had to declare bankruptcy"; "fraudulent loans led
to the failure of many banks" [syn: failure]
3: a legal process intended to insure equality among the
creditors of a corporation declared in bankruptcy
Based on WordNet 2.0
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Bankruptcy : \Bank"rupt*cy\, n.; pl. Bankruptcies(?).
1. The state of being actually or legally bankrupt.
2. The act or process of becoming a bankrupt.
3. Complete loss; -- followed by of.
Based on WordNet (r) 2.0 (August 2003)
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