Privation vs Insolvency - What's the difference?
privation | insolvency | Related terms |
(philosophy) The state of being deprived of or lacking an attribute formerly or properly possessed; the loss or absence of such an attribute.
The state of being very poor, and lacking the basic necessities of life.
The act of depriving someone of such basic necessities; deprivation.
The condition of being insolvent; the state or condition of a person who is insolvent; the condition of one who is unable to pay his debts as they fall due, or in the usual course of trade and business; as, a merchant's insolvency.
Insufficiency to discharge all debts of the owner; as, the insolvency of an estate.
The condition of having more debts than assets.