By this term is meant that mass of lawful and valid claims against the corporation for the payment of which there is no money in the corporate treasury specifically designed, nor any taxa-tion nor other means of providing money to pay particularly provided. People v. wood. 71 N. Y. 374: City of Huron v. Second ward Sav. Bank. 86 Fed. 276, 30 C. C. A. 38, 49 L. R. A. 534
Source: Black’s Law Dictionary 2nd Ed (1910)
