The state or condition of being unable to pay money owed, by a person or a company, on time. Those in a state of insolvency are referred to as insolvent.

Any matter of fact that a party to a claim or action offers to provide to prove or disprove an issue in the case. The strongest type of evidence is that which provides direct proof of the truth of an assertion. At the other extreme is evidence that is merely consistent with an assertion but does not rule out other, contradictory assertions, and may be viewed as circumstantial evidence.

A legal status imposed by a court order that usually refers to an individual that cannot repay the debts that it owes to creditors.

The term that describes a duty that is enforced by a court and where non-fulfilment may incur a penalty.