contemplation of insolvency

contemplation of insolvency
The attitude of the officers of a bank when it becomes known, or reasonably should be apparent, to them that the bank presently will be unable to meet its obligations and will be obliged to suspend its ordinary operations. Smith v Baldwin, 63 App DC 72, 69 F2d 390. See contemplation of bankruptcy.

Ballentine's law dictionary. . 1998.

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  • contemplation of insolvency — Knowledge of, and action with reference to, an existing or contemplated state of insolvency, with a design to make provision against its results or to defeat the operation of the insolvency laws. See act of bankruptcy contemplation of bankruptcy …   Black's law dictionary

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  • in contemplation of insolvency — See contemplation of insolvency …   Ballentine's law dictionary

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