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.
Effects of an insolvent debtor or bankrupt, applicable to the payment of debts.
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.
For far too long the world's poorest people have seen no benefit from the vast natural resources in their own backyards. It is time to end the injustice where ordinary people are silent witnesses, left to suffer without basic services, as the profits from their countries' assets are hidden and plundered by corrupt regimes. Nick Clegg