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3 definitions found

From Webster's Revised Unabridged Dictionary (1913) [web1913]:

  Assets \As"sets\, n. pl. [OF. asez enough, F. assez, fr. L. ad +
     satis, akin to Gr. ? enough, Goth. saps full. Cf. {Assai},
     {Satisfy}.]
     1. (Law)
        (a) Property of a deceased person, subject by law to the
            payment of his debts and legacies; -- called assets
            because sufficient to render the executor or
            administrator liable to the creditors and legatees, so
            far as such goods or estate may extend. --Story.
            --Blackstone.
        (b) Effects of an insolvent debtor or bankrupt, applicable
            to the payment of debts.
  
     2. The entire property of all sorts, belonging to a person, a
        corporation, or an estate; as, the assets of a merchant or
        a trading association; -- opposed to {liabilities}.
  
     Note: In balancing accounts the assets are put on the Cr.
           side and the debts on the Dr. side.

From WordNet (r) 2.0 [wn]:

  assets
       n : anything of material value or usefulness [ant: {liabilities}]

From eng-fra [engfra]:

  assets
  	[æsets]
  	actif
  
  

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