Liquidated damages

Liquidate Liq"ui*date (l[i^]k"w[i^]*d[=a]t), v. t. [imp. & p. p. {Liquidated} (-d[=a]`t[e^]d); 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. [1913 Webster]

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. [1913 Webster]

If our epistolary accounts were fairly liquidated, I believe you would be brought in considerable debtor. --Chesterfield. [1913 Webster]

2. In an extended sense: To ascertain the amount, or the several amounts, of, and apply assets toward the discharge of (an indebtedness). --Abbott. [1913 Webster]

3. To discharge; to pay off or settle, as an indebtedness. [1913 Webster]

Friburg was ceded to Zurich by Sigismund to liquidate a debt of a thousand florins. --W. Coxe. [1913 Webster]

4. To make clear and intelligible. [1913 Webster]

Time only can liquidate the meaning of all parts of a compound system. --A. Hamilton. [1913 Webster]

5. To make liquid. [Obs.] [1913 Webster]

6. To convert (assets) into cash. [PJC]

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

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

{Liquidated damages} (Law), damages the amount of which is fixed or ascertained. --Abbott. [1913 Webster]

The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

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  • liquidated damages — Compensation for non performance or loss which is cash or easily converted into cash. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • liquidated damages — The amount payable for delays and sub standard performance under a construction, equipment supply, or Operations & Maintenance contract. Bloomberg Financial Dictionary * * * liquidated damages liquidated damages ➔ damage1 * * * liquidated damages …   Financial and business terms

  • Liquidated damages — Als liquidated damages (englisch liquidierte Schäden) wird im anglo amerikanischen und internationalen Recht ein pauschalierter Schadenersatz bezeichnet. Ein solcher wird in den meisten Verträgen im internationalen Anlagenbau anstelle einer… …   Deutsch Wikipedia

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  • liquidated damages — A sum stipulated and agreed upon by the parties, at the time of entering into a contract, as being payable as compensation for loss suffered in the event of a breach. 22 Am J2d Damg § 212. As to the distinction between penalties and liquidated… …   Ballentine's law dictionary

  • liquidated damages — noun An amount owed to a plaintiff in a lawsuit by the defendant that is determined by operation of law, such as the unpaid amount in a breach of contract. See Also: unliquidated damages …   Wiktionary

  • liquidated damages — сумма, заранее согласованная в договоре как подлежащая возмещению в случае нарушения обязательства для покрытия предвидимых убытков, обычно сопоставляется со штрафными санкциями (penalty) …   Glossary of international commercial arbitration

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