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American Dictionary of the English Language

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Bankrupt


BANK'RUPT, noun [Eng.rout, defeat. This

may signify bench-broken, or bank-broken; most probably the latter, referring to the fund or stock. The last syllable is the Latin ruptus contracted; Norm.roupt, rous, broken.]

1. A trader who secretes himself, or does certain other acts tending to defraud his creditors.

2. In a less technical sense, a trader who fails or becomes unable to pay his just debts; an insolvent trader. In strictness, no person but a trader can be a bankrupt Bankruptcy is applied to merchants and traders; insolvency, to other persons.

BANK'RUPT, adjective Having committed acts of bankruptcy; unable to pay just debts; insolvent.

BANK'RUPT, verb transitive To break one in trade; to make insolvent.