— assetless , adj.
/as"et/ , n.
1. a useful and desirable thing or quality: Organizational ability is an asset.
2. a single item of ownership having exchange value.
3. assets ,
a. items of ownership convertible into cash; total resources of a person or business, as cash, notes and accounts receivable, securities, inventories, goodwill, fixtures, machinery, or real estate (opposed to liabilities ).
b. Accounting. the items detailed on a balance sheet, esp. in relation to liabilities and capital.
c. all property available for the payment of debts, esp. of a bankrupt or insolvent firm or person.
d. Law. property in the hands of an heir, executor, or administrator, that is sufficient to pay the debts or legacies of a deceased person.
[ 1525-35; back formation from assets, in phrase have assets, lit., have enough (to pay obligations) asez enough. See ASSAI 1 ]