Question

what is insolvent? how use in pakistan? ​

Answer 1

Answer:

Insolvent is a condition of a person who is unable to pay his debts as they fall due ,or in usual course of trade and business.

Pakistan is always been main a agricultural country and there is no necessary to insolvency law to country and there was no native law of insolvency now a day the Pakistan's law of insolvency is simply and solely the creation of statue .

2 system of insolvency in Vogue,

one applicable to presidency towns.

and other to mofussil.

Answer 2

~Good answer dear vaishnavimb

°the above answer is correct!

°Thank my answer please