Destitute of worth, of no value or use. Spring City Foundry Co. v. Commissioner of Internal Revenue, 292 U.S. 182, 54 S.Ct. 644, 78 L.Ed. 1200
@ worthless check
A check drawn on a bank account which is no longer open or on an account with funds insufficient to cover the check. Giving a worthless check is the making, drawing, issuing or delivering or causing or directing the making, drawing, issuing or delivering of any check, order or draft on any bank or depository for the payment of money or its equivalent with intent to defraud and knowing, at the time of the making, drawing, issuing or delivering of such check, order or draft as aforesaid, that the maker or drawer has no deposit in or credits with such bank or depository or has not sufficient funds in, or credits with, such bank or depository for the payment of such check, order or draft in full upon its presentation. Such act is a misdemeanor in most states.
See e.g. Model Penal Code, No. 224.5.
See also bad check
@ worthless securities
A loss (usually capital) is allowed for a security that becomes worthless during the year. The loss is deemed to have occurred on the last day of the year. Special rules apply to securities of affiliated companies and small business stock.
See I.R.C. No. 165

Black's law dictionary. . 1990.

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  • Worthless — Worth less, a. [AS. weor[eth]le[ a]s.] Destitute of worth; having no value, virtue, excellence, dignity, or the like; undeserving; valueless; useless; vile; mean; as, a worthless garment; a worthless ship; a worthless man or woman; a worthless… …   The Collaborative International Dictionary of English

  • worthless — worth‧less [ˈwɜːθləs ǁ ˈwɜːrθ ] adjective having no value or importance: • Inflation made the old Argentinian currency virtually worthless. • a completely worthless exercise * * * worthless UK US /ˈwɜːθləs/ adjective ► having no value: »The stock …   Financial and business terms

  • worthless — index barren, contemptible, delinquent (guilty of a misdeed), expendable, frivolous, futile, ignoble, immaterial …   Law dictionary

  • worthless — 1580s, from WORTH (Cf. worth) (1) + LESS (Cf. less). Related: Worthlessly; worthlessness …   Etymology dictionary

  • worthless — [adj] of no use; without value abandoned, abject, barren, base, bogus, cheap, contemptible, counterproductive, despicable, empty, futile, good for nothing*, ignoble, inconsequential, ineffective, ineffectual, inferior, insignificant, inutile,… …   New thesaurus

  • worthless — ► ADJECTIVE 1) having no real value or use. 2) having no good qualities. DERIVATIVES worthlessly adverb worthlessness noun …   English terms dictionary

  • worthless — [wʉrth′lis] adj. without worth or merit; useless, valueless, etc. worthlessly adv. worthlessness n …   English World dictionary

  • worthless — [[t]wɜ͟ː(r)θləs[/t]] 1) ADJ GRADED Something that is worthless is of no real value or use. The guarantee could be worthless if the firm goes out of business... Training is worthless unless there is proof that it works. ...a worthless piece of old …   English dictionary

  • worthless — worth|less [ˈwə:θləs US ˈwə:rθ ] adj 1.) something that is worthless has no value, importance, or use ≠ ↑valuable ▪ The house was full of worthless junk. ▪ The information was worthless to me. 2.) a worthless person has no good qualities or… …   Dictionary of contemporary English

  • worthless — adj. VERBS ▪ be, feel, prove, seem ▪ become ▪ make sth, render sth ▪ These contradictions made his evidence …   Collocations dictionary

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