Bankruptcy
['bæŋkrʌptsɪ] or ['bæŋkrʌptsi]
Definition
(noun.) a legal process intended to insure equality among the creditors of a corporation declared to be insolvent.
(noun.) 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'.
(noun.) a state of complete lack of some abstract property; 'spiritual bankruptcy'; 'moral bankruptcy'; 'intellectual bankruptcy'.
Checked by Cindy--From WordNet
Definition
(n.) The state of being actually or legally bankrupt.
(n.) The act or process of becoming a bankrupt.
(n.) Complete loss; -- followed by of.
Checker: Lola
Synonyms and Synonymous
n. Insolvency.
Editor: Stephen
Examples
- If I did as you wish me to do, I should be bankrupt in a month; and would my bankruptcy put bread into your hungry children's mouths? Charlotte Bronte. Shirley.
- Yes--poverty, misery, bankruptcy. Charlotte Bronte. Shirley.
- His name had been proclaimed as a defaulter on the Stock Exchange, and his bankruptcy and commercial extermination had followed. William Makepeace Thackeray. Vanity Fair.
- In 1889 the company went into bankruptcy and operations were suspended until the new Panama Canal Company was organized in 1894. Various. The Wonder Book of Knowledge.
- Bankruptcy is, perhaps, the greatest and most humiliating calamity which can befal an innocent man. Adam Smith. An Inquiry into the Nature and Causes of the Wealth of Nations.
- So sudden and so great a bankruptcy, we should in the present times be apt to imagine, must have occasioned a very violent popular clamour. Adam Smith. An Inquiry into the Nature and Causes of the Wealth of Nations.
- All her lies and her schemes, and her selfishness and her wiles, all her wit and genius had come to this bankruptcy. William Makepeace Thackeray. Vanity Fair.
- They declared him at the Stock Exchange; he was absent from his house of business: his bills were protested: his act of bankruptcy formal. William Makepeace Thackeray. Vanity Fair.
- The old man walked very slowly and told a number of ancient histories about himself and his poor Bessy, his former prosperity, and his bankruptcy. William Makepeace Thackeray. Vanity Fair.
- Bankruptcy may come when it lists. Charlotte Bronte. Shirley.
- Two or three great bankruptcies in a mercantile town, will bring many houses to sale, which must be sold for what can be got for them. Adam Smith. An Inquiry into the Nature and Causes of the Wealth of Nations.
- Bankruptcies are most frequent in the most hazardous trades. Adam Smith. An Inquiry into the Nature and Causes of the Wealth of Nations.
- But if the common returns were sufficient for all this, bankruptcies would not be more frequent in these than in other trades. Adam Smith. An Inquiry into the Nature and Causes of the Wealth of Nations.
Inputed by Annie