‘INSOLVENCY. The condition of a person who is insolvent; inability to pay one’s debts; lack of means to pay one’s debts. Such a relative condition of a man’s assets and Habilities that the former, if all made immediately available, would not be suffiecient to discharge the latter. Or the condition of a person who is unable to pay his debts as they fall due, or in the usual course. of trade and business. See Dewey v. St.