Financially able

Definition of Financially able

Solvent; credit worthy; able to pay debts and expenses as due. Means purchaser must be able to command the necessary funds to close the transaction within the required time. Hersh v. Garau, 218 Cal. 460, 23 P.2d 1022. A prospective purchaser is "financially able” if he or she has the capability to make downpayment and all deferred payments required under a proposed contract of sale. Fleming Realty & Ins., Inc. v. Evans, 199 Neb. 440, 259 N.W.2d 604, 606. See also Financial responsibility acts; Solvency.

That's the definition of Financially able in Black's Law Dictionary 6th Edition. Courtesy of

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