An Insolvent Is a Person Who Is Unable to Pay

question 15

True/False

An insolvent is a person who is unable to pay debts as and when they fall due out of the debtor's own funds.

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Definitions:

Alzheimer's Disease

A progressive neurodegenerative disorder that causes memory loss, cognitive decline, and ultimately, loss of ability to carry out simple tasks.

Neurological Disorder

Any condition that is caused by a dysfunction in part of the brain or nervous system, leading to physical and/or psychological symptoms.

Korsakoff's Syndrome

A chronic memory disorder caused by severe deficiency of thiamine (vitamin B1), most commonly associated with prolonged alcoholism.

Chronic Alcoholism

A severe form of alcohol dependency characterized by prolonged excessive drinking, leading to significant physical, social, and mental health issues.