Table of Contents
What does solvent mean in legal terms?
Solvent means that there are still assets left over after all the debts have been paid. These assets are then distributed to the heirs as outlined in your Will or if there is no Will, in accordance with state law. An insolvent estate on the other hand, is one where the debts exceed the value of the assets.
What does it mean when estate is solvent?
A solvent estate means that there are enough assets to cover your outstanding debts and still provide some form of an inheritance to your heirs. If your estate is insolvent, you don’t have enough assets to cover your debts and your heirs end up with nothing.
What does keeping something solvent mean?
solvent adjective (HAVING MONEY) (esp. of companies) having enough money to pay all your debts.
What does not solvent mean?
a substance incapable of dissolving a given component of a solution or mixture.
Who is a solvent partner?
Explanation: Solvent partner is a partner whose personal assets are more than his personal liabilities (Baysa & Lupisan, 2011).
How do you become a solvent?
To be solvent, your assets must total more than your liabilities. If your assets amount to less than your liabilities, you are insolvent. If your assets are equal to or greater than your liabilities, you are solvent.
What is a solvent debtor?
These exceptions included the “solvent debtor” exception, which provided that interest would continue to accrue on a debt after a bankruptcy filing if the creditor’s contract expressly provided for it, and would be payable if the bankruptcy estate contained sufficient assets to do so after satisfying other debts.
What is the example of solvent?
Solvent Examples. Common examples of solvents include water, ethanol, methanol and acetone. The term ‘solvent’ can be defined as a substance that has the ability to dissolve a given solute to form a solution with it.
What are different types of solvents?
Solvent Classifications Organic solvents and inorganic solvents are two types of solvents. Inorganic solvents are other solvents that do not contain carbon, such as water , ammonia, whereas organic solvents, such as alcohols, glycol ethers, contain carbon and oxygen in their structure.
Who is a solvent person?
If a person or a company is solvent, they have enough money to pay all their debts.
What called solvent?
A solvent (from the Latin solvō, “loosen, untie, solve”) is a substance that dissolves a solute, resulting in a solution. A solvent is usually a liquid but can also be a solid, a gas, or a supercritical fluid.
What is the solvent debtor exception?
–By Unsecured Creditors (Equitable Arguments) Such exception is based on the idea that, when a debtor is solvent, unsecured creditors should receive their full contract rights before owners receive a dime. [Note: this is the same idea animating the absolute priority rule.]
What are 2 types of solvents?
How does a solvent work?
A solvent is a molecule that can dissolve other molecules, known as solutes. A solvent can be solid, liquid or gas. A solvent’s molecules pull apart the solute’s molecules, and eventually the solute’s molecules become evenly distributed throughout the solvent. This homogeneous mixture cannot be separated physically.
What is the role of solvent?
In chemistry, solvents – which are generally in liquid form – are used to dissolve, suspend or extract other materials, usually without chemically changing either the solvents or the other materials.
What are some examples of a solvent?
What is post petition interest?
Post-Petition Interest means any interest or entitlement to fees or expenses or other charges that accrue after the commencement of any bankruptcy or insolvency proceeding, whether or not allowed or allowable as a claim in any such bankruptcy or insolvency proceeding.
What does solvent mean in law?
TheLaw.com Law Dictionary & Black’s Law Dictionary 2nd Ed. One who has sufficient to pay his debts, and all obligations. A solvent person is one who is able to pay all his just debts in full out of his own present means.
What is a solvent for kids?
Kids Definition of solvent : a usually liquid substance in which other substances can be dissolved or dispersed Turpentine is a solvent for paint.
What is the solvent for paint?
: a usually liquid substance in which other substances can be dissolved or dispersed Turpentine is a solvent for paint. What made you want to look up solvent? Please tell us where you read or heard it (including the quote, if possible).
What is a defendant in law?
Convenient, Affordable Legal Help – Because We Care! Defendant Law and Legal Definition. A defendant, in criminal cases, is the person accused of the crime. In civil matters, the defendant is the person or entity that is being sued. In some states, or in certain types of actions, the defendant is called the respondent.