BANKRUPT Meaning and
Definition
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Bankrupt is an adjective that describes a person, organization, or entity that has been declared legally insolvent due to an inability to pay their debts. It refers to the financial state of complete impoverishment where an individual or a company has exhausted all available resources and is unable to fulfill their financial obligations.
A bankrupt individual or corporation is typically subject to a legal process, called bankruptcy proceedings, which involves a court determining how to distribute any remaining assets among the creditors. This is done in order to satisfy as much of the debts as possible. The aim of bankruptcy is to provide a fair and orderly resolution to the financial hardship experienced by the insolvent entity.
Being bankrupt is seen as a significant financial setback and often carries a social stigma. It suggests that an individual or organization has fallen into financial distress and has failed to manage their finances effectively.
Bankruptcy can occur due to various reasons such as poor business decisions, economic downturns, excessive borrowing, or mismanagement. It is important to note that bankruptcy laws and regulations may vary across jurisdictions, and the exact process and consequences depend on the specific legal framework in place.
Overall, bankrupt is a term used to describe the state of financial insolvency that occurs when an entity's liabilities surpass their assets, resulting in an inability to meet their financial obligations.
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• Any one who becomes unable to pay his just debts.
• Declared to be in debt beyond the power of payment.
• To disable one from paying the claims of his creditors.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for BANKRUPT *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for BANKRUPT
Etymology of BANKRUPT
The word "bankrupt" derives from the Italian term "banca rotta", which translates to "broken bench" in English. In medieval Italy, moneylenders and bankers conducted their business on benches in public places, and when a moneylender was unable to repay their debts, their bench would be physically broken or destroyed as a form of punishment. The term later evolved into "banque route" in Old French, and finally became "bankrupt" in English during the 16th century.
Similar spelling words for BANKRUPT
Conjugate verb Bankrupt
CONDITIONAL PERFECT
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would have bankrupted
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CONDITIONAL PERFECT PROGRESSIVE
I
would have been bankrupting
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would have been bankrupting
he/she/it
would have been bankrupting
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would have been bankrupting
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would have been bankrupting
CONDITIONAL PRESENT
I
would bankrupt
you
would bankrupt
he/she/it
would bankrupt
we
would bankrupt
they
would bankrupt
CONDITIONAL PRESENT PROGRESSIVE
I
would be bankrupting
you
would be bankrupting
he/she/it
would be bankrupting
we
would be bankrupting
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would be bankrupting
FUTURE
I
will bankrupt
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will bankrupt
he/she/it
will bankrupt
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will bankrupt
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will bankrupt
FUTURE CONTINUOUS
I
will be bankrupting
you
will be bankrupting
he/she/it
will be bankrupting
we
will be bankrupting
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will be bankrupting
FUTURE PERFECT
I
will have bankrupted
you
will have bankrupted
he/she/it
will have bankrupted
we
will have bankrupted
they
will have bankrupted
FUTURE PERFECT CONTINUOUS
I
will have been bankrupting
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will have been bankrupting
he/she/it
will have been bankrupting
we
will have been bankrupting
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will have been bankrupting
IMPERATIVE
you
bankrupt
we
let´s bankrupt
to bankrupt
PAST CONTINUOUS
I
was bankrupting
you
were bankrupting
he/she/it
was bankrupting
we
were bankrupting
they
were bankrupting
PAST PARTICIPLE
bankrupted
PAST PERFECT
I
had bankrupted
you
had bankrupted
he/she/it
had bankrupted
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had bankrupted
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had bankrupted
PAST PERFECT CONTINUOUS
I
had been bankrupting
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had been bankrupting
he/she/it
had been bankrupting
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had been bankrupting
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had been bankrupting
PRESENT
I
bankrupt
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bankrupt
he/she/it
bankrupts
we
bankrupt
they
bankrupt
PRESENT CONTINUOUS
I
am bankrupting
you
are bankrupting
he/she/it
is bankrupting
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are bankrupting
they
are bankrupting
PRESENT PARTICIPLE
bankrupting
PRESENT PERFECT
I
have bankrupted
you
have bankrupted
he/she/it
has bankrupted
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have bankrupted
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have bankrupted
PRESENT PERFECT CONTINUOUS
I
have been bankrupting
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have been bankrupting
he/she/it
has been bankrupting
we
have been bankrupting
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have been bankrupting
PRESENT SUBJUNCTIVE
he/she/it
bankrupt
SIMPLE PAST
I
bankrupted
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bankrupted
he/she/it
bankrupted
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bankrupted
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bankrupted
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