BANK'RUPT, noun [Eng.rout, defeat. This may signify bench-broken, or bank-broken; most probably the latter, referring to the fund or stock. The last syllable is the Latin ruptus contracted; Norm.roupt, rous, broken.] 1. A trader who secretes himself, or does certain other acts tending to defraud his creditors. 2. In a less technical sense, a trader who fails or becomes unable to pay his just debts; an insolvent trader. In strictness, no person but a trader can be a bankrupt Bankruptcy is applied to merchants and traders; insolvency, to other persons. BANK'RUPT, adjective Having committed acts of bankruptcy; unable to pay just debts; insolvent. BANK'RUPT, verb transitive To break one in trade; to make insolvent.
Source: Webster's 1828 American Dictionary ↗ · public-domain · returned verbatim, no AI