bankrupt Meaning, Definition & Usage

  1. noun someone who has insufficient assets to cover their debts
    insolvent.
  2. verb reduce to bankruptcy
    break; smash; ruin.
    • My daughter's fancy wedding is going to break me!
    • The slump in the financial markets smashed him
  3. adjective satellite financially ruined
    belly-up.
    • a bankrupt company
    • the company went belly-up

WordNet

Bank"rupt noun
Etymology
F. banqueroute, fr. It. bancarotta bankruptcy; banca bank (fr. OHG. banch, G. bank, bench) + rotta broken, fr. L. ruptus, p.p. of rumpere to break. At Florence, it is said, the bankrupt had his bench ( i.e., money table) broken. See 1st Bank, and Rupture, n.
Definitions
  1. (Old Eng. Low) A trader who secretes himself, or does certain other acts tending to defraud his creditors. Blackstone.
  2. A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person. MCulloch.
  3. (Law) A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities. ✍ In England, until the year 1861 none but a "trader" could be made a bankrupt; a non-trader failing to meet his liabilities being an "insolvent". But this distinction was abolished by the Bankruptcy Act of 1861. The laws of 1841 and 1867 of the United States relating to bankruptcy applied this designation bankrupt to others besides those engaged in trade.
Bank"rupt adjective
Definitions
  1. Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant.
  2. Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury.
  3. Relating to bankrupts and bankruptcy.
  4. Destitute of, or wholly wanting (something once possessed, or something one should possess).
    "Bankrupt in gratitude." Sheridan.
Bank"rupt transitive verb
Wordforms
imperfect & past participle Bankrupted; present participle & verbal noun Bankrupting
Definitions
  1. To make bankrupt; to bring financial ruin upon; to impoverish.

Webster 1913