An insolvent is a person who is unable to pay debts as and when they fall due out of the debtor's own funds.

Name: An insolvent is a person who is unable to pay debts as and when they fall due out of the debtor's own funds.
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An insolvent is defined as a person who is not able to pay debts as they fall due out of their own resources. This means that they have more debt than assets or income and are unable to meet their financial obligations.

An Insolvent Is a Person Who Is Unable to Pay