Liquidation - Page 2 - Law Dictionary

Liquidated demand

Liquidated demand, where an action is brought for the recovery of a liquidated sum the writ of summons may be specially endorsed; see the title LEAVE TO DEFEND....

To liquidate, means to ascertain and/or apportion, Dena Bank v. K. Motiram Vakil, AIR 1989 Bom 264: 1988 (2) Cur CC 1153: (1989) 1 Bank CLR 499: (1988) 3 Bom Cr 210: (1988) 90 Bom LR 275: 1988 Mah LR 1691...

liquid asset

liquid asset a cash asset or an asset that is easily converted into cash. Source: U.S. Department of Housing and Urban Development ...

liquid

liquid 1 a : consisting of cash or capable of ready conversion into cash [ assets] b : capable of covering current liabilities out of current assets esp. in a rapid manner [a insurer] 2 : of or relating to a security or commodity with enough shares or units outstanding to hinder significant price variation from large transactions ...

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....

liquidated damages

liquidated damages see damage ...

Liquidator

One who or that which liquidates...

Liquidity

The state or quality of being liquid...

Liquidize

To render liquid...

Liquidly

In a liquid manner flowingly...

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