to meet one's liabilities
1solvent — adj. & n. adj. 1 able to dissolve or form a solution with something. 2 having enough money to meet one s liabilities. n. 1 a solvent liquid etc. 2 a dissolving or weakening agent. Derivatives: solvency n. (in sense 2) …
2bankruptcy — /bangk rupt see, reuhp see/, n., pl. bankruptcies. 1. the state of being or becoming bankrupt. 2. utter ruin, failure, depletion, or the like. [1690 1700; BANKRUPT + CY] * * * Status of a debtor who has been declared by judicial process to be… …
3liability — 1) In the broad legal sense, responsibility or obligation. For example, a person is liable to pay his debts, under the law; 2) In accounting, any debt owed by an individual or organization. Current, or short term, liabilities are those to be paid …
4Liability — A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation. The New York Times Financial Glossary * * * liability li‧a‧bil‧i‧ty [ˌlaɪəˈbɪlti] noun liabilities PLURALFORM …
5James K. Polk: Inaugural Address — ▪ Primary Source Tuesday, March 4, 1845 Without solicitation on my part, I have been chosen by the free and voluntary suffrages of my countrymen to the most honorable and most responsible office on earth. I am deeply impressed with… …
6commercial transaction — ▪ economics Introduction in law, the core of the legal rules governing business dealings. The most common types of commercial transactions, involving such specialized areas of the law and legal instruments as sale of goods and documents of… …
7Types of business entity — Companies law Company  …
8Real property use tax — The Real Property Use Tax (RPUT) is a tax system with assessment based on the size, level of development, and time in use of real property, and designed for general revenue acquisition. The tax system is a proposed replacement for the federal… …
9assessment period — In the context of pensions, a period, beginning with a qualifying insolvency event, during which the Board of the Pension Protection Fund (PPF) considers whether a salary related occupational pension scheme (salary related scheme) is eligible for …
10prudence — One of the fundamental accounting concepts. Accounts must be prepared on a prudent basis. Revenue must never be shown in the accounts until the cash realisation of the revenue is reasonably certain. On the other hand, costs arising as a result of …