suspension of payment

suspension of payment
Failure to pay obligations because of want of financial ability. The expression means something more than a failure of the maker of commercial paper to seek the holder and pay him. Business men well understand its meaning; there is the idea in it of a failure to pay from an inability to do so. It has been held in effect that a suspension of payment occurs where a person indebted to others is unable to meet his engagements with and to pay his creditors in full. McCormick & Co. v Gem State Oil & Products Co. 38 Idaho 470, 222 P 286, 34 ALR 867, 871. See moratorium; suspends.

Ballentine's law dictionary. . 1998.

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  • Suspension — Sus*pen sion, n. [Cf. F. suspension, L. suspensio arched work, imperfect pronunciation. See {Suspend}.] 1. The act of suspending, or the state of being suspended; pendency; as, suspension from a hook. [1913 Webster] 2. Especially, temporary delay …   The Collaborative International Dictionary of English

  • Suspension bridge — Suspension Sus*pen sion, n. [Cf. F. suspension, L. suspensio arched work, imperfect pronunciation. See {Suspend}.] 1. The act of suspending, or the state of being suspended; pendency; as, suspension from a hook. [1913 Webster] 2. Especially,… …   The Collaborative International Dictionary of English

  • Suspension of arms — Suspension Sus*pen sion, n. [Cf. F. suspension, L. suspensio arched work, imperfect pronunciation. See {Suspend}.] 1. The act of suspending, or the state of being suspended; pendency; as, suspension from a hook. [1913 Webster] 2. Especially,… …   The Collaborative International Dictionary of English

  • Suspension scale — Suspension Sus*pen sion, n. [Cf. F. suspension, L. suspensio arched work, imperfect pronunciation. See {Suspend}.] 1. The act of suspending, or the state of being suspended; pendency; as, suspension from a hook. [1913 Webster] 2. Especially,… …   The Collaborative International Dictionary of English

  • suspension — [sə spen′shən] n. [ML suspensio < LL, an arching < L suspensus: see SUSPENSE] 1. a suspending or being suspended; specif., a) a temporary barring from an office, school, etc. b) a temporary stoppage of payment, service, etc. c) a temporary… …   English World dictionary

  • suspension — noun /səˈspɛnʃən/ a) The act of suspending, or the state of being suspended b) A temporary delay, interruption, or cessation; Of labor, study, pain, etc.; Of decision, determination, judgment, etc.; Of judgment or opinion in view of evidence to… …   Wiktionary

  • suspension — /seuh spen sheuhn/, n. 1. the act of suspending. 2. the state of being suspended. 3. temporary abrogation or withholding, as of a law, privilege, decision, belief, etc. 4. stoppage of payment of debts or claims because of financial inability or… …   Universalium

  • suspension — /səˈspɛnʃən / (say suh spenshuhn) noun 1. the act of suspending. 2. the state of being suspended. 3. temporary abrogation, as of a law or privilege. 4. stoppage of payment of debts, etc., through financial inability, or insolvency. 5. Physical… …  

  • suspension — noun Etymology: Middle English suspensyon, from Anglo French suspension, from Late Latin suspension , suspensio, from Latin suspendere Date: 15th century 1. the act of suspending ; the state or period of being suspended: as a. temporary removal… …   New Collegiate Dictionary

  • suspension — sus•pen•sion [[t]səˈspɛn ʃən[/t]] n. 1) the act of suspending 2) the state of being suspended 3) temporary abrogation, as of a law or rule 4) temporary withholding, as of a decision or belief 5) temporary debarring, as from an office, school, or… …   From formal English to slang

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