liquidate Hear it!

liquidate definition - legal

v

  1. In bankruptcy or insolvency, to terminate a business by the sale of its assets to pay its liabilities.
  2. To pay a debt.
  3. To convert hard assets into cash.
  4. To set, by contract or stipulation, a fixed amount for damages resulting from a particular harm.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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