'To suspend payment' definitions:

Definition of 'To suspend payment'

From: GCIDE

Suspend \Sus*pend"\, v. t. [imp. & p. p. Suspended; p. pr. & vb. n. Suspending.] [F. suspendre, or OF. souspendre (where the prefix is L. subtus below, from sub under), L. suspendere, suspensum; pref. sus- (see Sub-) + pendere to hang. See Pedant, and cf. Suspense, n.]
1. To attach to something above; to hang; as, to suspend a ball by a thread; to suspend a needle by a loadstone. [1913 Webster]
2. To make to depend; as, God hath suspended the promise of eternal life on the condition of obedience and holiness of life. [Archaic] --Tillotson. [1913 Webster]
3. To cause to cease for a time; to hinder from proceeding; to interrupt; to delay; to stay. [1913 Webster]
Suspend your indignation against my brother. --Shak. [1913 Webster]
The guard nor fights nor fies; their fate so near At once suspends their courage and their fear. --Denham. [1913 Webster]
4. To hold in an undetermined or undecided state; as, to suspend one's judgment or opinion. --Locke. [1913 Webster]
5. To debar, or cause to withdraw temporarily, from any privilege, from the execution of an office, from the enjoyment of income, etc.; as, to suspend a student from college; to suspend a member of a club. [1913 Webster]
Good men should not be suspended from the exercise of their ministry and deprived of their livelihood for ceremonies which are on all hands acknowledged indifferent. --Bp. Sanderson. [1913 Webster]
6. To cause to cease for a time from operation or effect; as, to suspend the habeas corpus act; to suspend the rules of a legislative body. [1913 Webster]
7. (Chem.) To support in a liquid, as an insoluble powder, by stirring, to facilitate chemical action. [1913 Webster]
To suspend payment (Com.), to cease paying debts or obligations; to fail; -- said of a merchant, a bank, etc. [1913 Webster]
Syn: To hang; interrupt; delay; intermit; stay; hinder; debar. [1913 Webster]