Etymology
The word "insolvent" comes from the Latin words "in-" (not) and "solvere" (to pay).
Meaning
Insolvent means unable to pay debts or obligations when they come due. It typically refers to individuals or businesses that are financially unable to meet their financial responsibilities.
Origin
The term "insolvent" has been in use since the 16th century. It was used in a legal context to describe debtors who were unable to pay their debts to creditors. Over time, the term has come to be used more broadly to describe any individual or entity that is unable to meet their financial obligations.
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