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Sunday, December 22nd, 2024
the Fourth Week of Advent
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Bible Dictionaries
Assets

Webster's Dictionary

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(1):

(n. pl.) The entire property of all sorts, belonging to a person, a corporation, or an estate; as, the assets of a merchant or a trading association; - opposed to liabilities.

(2):

(n. pl.) Property of a deceased person, subject by law to the payment of his debts and legacies; - called assets because sufficient to render the executor or administrator liable to the creditors and legatees, so far as such goods or estate may extend.

(3):

(n. pl.) Effects of an insolvent debtor or bankrupt, applicable to the payment of debts.

Bibliography Information
Webster, Noah. Entry for 'Assets'. Noah Webster's American Dictionary. https://www.studylight.org/​dictionaries/​eng/​web/​a/assets.html. 1828.
 
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