solvent debt

solvent debt
A debt which can promptly be enforced and realized. Ward v Pittsburgh, 321 Pa 414, 184 A 240, 105 ALR 682. An obligation which is collectible by the creditor in the ordinary course of business resort to suit or execution not being required. Stillman v Lynch, 56 Utah 540, 192 P 272, 12 ALR 552, 559.

Ballentine's law dictionary. . 1998.

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