The condition of a person having sufficient assets to meet his obligations as they mature in the ordinary course of business. Ability to pay one's debts, not a mere disposition to pay. Janes v Scott, 59 Pa 178. A word which implies as well the present ability of the debtor to pay out of his estate all his debts, as also such condition of his property as that it may be reached and subjected by process of law, without his consent, to the payment of such debts. 29 Am 1 Rev ed Insolv § 2. Solvency is to be distinguished from the state of a person who possesses the ability to secure further credit and thus incur further indebtedness. The lat- ter state may be one of insolvency. Baily v Hornthal, 154 NY 648 49 NE 56. See actuarial solvency.

Ballentine's law dictionary. . 1998.

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