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From: Webster's Revised Unabridged Dictionary (1913)

 In·sol·ven·cy n.; pl. Insolvencies  Law (a) The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business; as, a merchant's insolvency. (b) Insufficiency to discharge all debts of the owner; as, the insolvency of an estate.
 Act of insolvency. See Insolvent law under Insolvent, a.
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