Are You a Legal Professional?

FINDLAW LEGAL DICTIONARY

The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

Bankrupt

bankrupt n

: a debtor (as an individual or organization) whose property is subject to administration under the bankruptcy laws for the benefit of the debtor's creditors [was adjudicated a ] — see also debtor
adj : ruined financially
;esp
: judicially declared a bankrupt [the company is ] compare insolvent
vt : to reduce to bankruptcy [was ed by attorney's fees]



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.