Liquidate - Page 2 - Law Dictionary

Official liquidators

Official liquidators, officers appointed to conduct the proceedings and to assist the court in winding up a joint-stock company, (English) Companies Act, 1862, s. 92. See now (English) Companies Act, 1929, s. 185, replacing the (English) Companies (Consolidation) Act, 1908, ss. 149 et seq., where they are styled 'liquidators....

Liquidation expenses principle

Liquidation expenses principle, is a statement of how, in general, the court will exercise its discretion in a common form set of circumstances, Lundy Granite Co. (in re:); Heavan Ex parte, (1871) LR 6 Ch. App 462; see also Oak Pits Colliery Co. (in re:), (1882) 21 Ch D 322....

Liquidated damages

Liquidated damages, the amount agreed upon by a party to a contract to be paid as compensation for the breach of it, and intended to be recovered, whether the actual damages sustained by the breach be more or less, in contradistinction to a penalty; which is only the maximum amount agreed to be paid, and is intended to be reducible in proportion to the actual damage sustained. See Kemble v. Farren, (1829) 6 Bing 141; Lord Elphinstone v. Monkland Iron Co., (1886) 11 App Cas 332; Diestel v. Stevenson, (1906) 2 KB 345. See DAMAGES; PENALTY....

Liquidly

In a liquid manner flowingly...

Liquidity

The state or quality of being liquid...

Liquidator

One who or that which liquidates...

Liquid air

A transparent limpid liquid slightly blue in color consisting of a mixture of liquefied oxygen and nitrogen It is prepared by subjecting air to great pressure and then cooling it by its own expansion to a temperature below the boiling point of its constituents N 194deg C O 183deg C...

Liquidate - Law Dictionary Search Results