Insolvent
Legal definition for Indian law research
Definition
Insolvent, a person is said to be 'insolvent' who has ceased to pay, his debts in the ordinary course of business, or cannot pay his debts as they become due, whether he has committed an act of insolvency or not. [Sale of Goods Act, 1930 (30 of 1930), s. 2(8)]
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.