(lk"w*dt), v. t. [imp. & p. p. Liquidated (-d`td); p. pr. & vb. n. Liquidating.] [LL. liquidatus, p. p. of liquidare to liquidate, fr. L. liquidus liquid, clear. See Liquid.] 1. (Law) To determine by agreement or by litigation the precise amount of (indebtedness); or, where there is an indebtedness to more than one person, to determine the precise amount of (each indebtedness); to make the amount of (an indebtedness) clear and certain.
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A debt or demand is liquidated whenever the amount due is agreed on by the parties, or fixed by the operation of law.
15 Ga. Rep. 321.
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If our epistolary accounts were fairly liquidated, I believe you would be brought in considerable debtor.
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2. In an extended sense: To ascertain the amount, or the several amounts, of, and apply assets toward the discharge of (an indebtedness). Abbott.
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3. To discharge; to pay off or settle, as an indebtedness.
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Friburg was ceded to Zurich by Sigismund to liquidate a debt of a thousand florins.
W. Coxe.
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4. To make clear and intelligible.
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Time only can liquidate the meaning of all parts of a compound system.
A. Hamilton.
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5. To make liquid. [Obs.]
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6. To convert (assets) into cash.

7. To kill; -- used mostly of governments or organizations killing their enemies; as, Stalin liquidated many of the Kulaks.

8. To dissolve (an organization); to terminate (an activity).

Liquidated damages (Law), damages the amount of which is fixed or ascertained. Abbott.
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Mon 25th January 2021