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Bankrupt   /bˈæŋkrəpt/   Listen
adjective
Bankrupt  adj.  
1.
Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant.
2.
Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury.
3.
Relating to bankrupts and bankruptcy.
4.
Destitute of, or wholly wanting (something once possessed, or something one should possess). "Bankrupt in gratitude."
Bankrupt law, a law by which the property of a person who is unable or unwilling to pay his debts may be taken and distributed to his creditors, and by which a person who has made a full surrender of his property, and is free from fraud, may be discharged from the legal obligation of his debts. See Insolvent, a.


noun
Bankrupt  n.  
1.
(Old Eng. Law) A trader who secretes himself, or does certain other acts tending to defraud his creditors.
2.
A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person.
3.
(Law) A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities. Note: In England, until the year 1861 none but a "trader" could be made a bankrupt; a non-trader failing to meet his liabilities being an "insolvent". But this distinction was abolished by the Bankruptcy Act of 1861. The laws of 1841 and 1867 of the United States relating to bankruptcy applied this designation bankrupt to others besides those engaged in trade.


verb
Bankrupt  v. t.  (past & past part. bankrupted; pres. part. bankrupting)  To make bankrupt; to bring financial ruin upon; to impoverish.





Collaborative International Dictionary of English 0.48


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"Bankrupt" Quotes from Famous Books



... here to Philadelphia," added his wife, a note of pride in her voice, "he fought for the colonies just as surely as Colonel Franks upon the battlefield. You have heard of the vast sums of money he lent the bankrupt government—and without a ...
— The New Land - Stories of Jews Who Had a Part in the Making of Our Country • Elma Ehrlich Levinger
... other cases; the world is full of these unfulfilled ideas, these uncompleted temples. History does not consist of completed and crumbling ruins; rather it consists of half-built villas abandoned by a bankrupt-builder. This world is more like an unfinished ...
— What's Wrong With The World • G.K. Chesterton
... the anteroom of the sacred inclosure where Ferriday was behaving like a lion in a cage, belching his wrath at his keepers, ordering the fund-finders to find more funds for his great picture. It threatened to bankrupt them before it was finished, but he derided them as imbeciles, ...
— We Can't Have Everything • Rupert Hughes
... ascended the throne on May 11, 1774. Finances, whose deficiencies neither the restorative ministry of Cardinal de Fleury, nor the bankrupt ministry of the Abbe Terray had been able to make good, authority disregarded, an imperious public opinion; such were the difficulties which the new reign inherited from its predecessors. And in choosing, on his accession to the throne, Maurepas as prime minister, Louis XVI. ...
— The World's Greatest Books, Vol XII. - Modern History • Arthur Mee
... friend had done as a man would live as long as what he had written. Sir Walter Scott and he were linked indissolubly together. Our friend, like Scott, was ruined by the mistakes of partners, who had become hopelessly bankrupt. Two courses lay before him. One the smooth, easy, and short way—the legal path. Surrender all your property, go through bankruptcy, and start afresh. This was all he owed to creditors. The other path, long, thorny, and dreary, a life struggle, with everything sacrificed. There lay the two paths ...
— Autobiography of Andrew Carnegie • Andrew Carnegie


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