Insolvency \In*sol"ven*cy\, n.; pl. {Insolvencies}. (Law)
(a) The condition of being insolvent; the state or
condition of a person who is insolvent; the condition
of one who is unable to pay his debts as they fall
due, or in the usual course of trade and business; as,
a merchant's insolvency.
(b) Insufficiency to discharge all debts of the owner; as,
the insolvency of an estate.
[1913 Webster]
{Act of insolvency}. See {Insolvent law} under {Insolvent},
a.
[1913 Webster]