Based on the Random House Dictionary, © Random House, Inc. 2012.
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| a stew of meat, vegetables, potatoes, etc. |
| an arrangement of five objects, as trees, in a square or rectangle, one at each corner and one in the middle. |
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liquidation
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liquidation definition
The conversion of the assets of a firm into cash, often just before the firm goes out of business.
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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liquidation
discharge of a debt or the determination by agreement or litigation of the amount of a previously unliquidated claim. One important legal meaning is the distribution of the assets of an enterprise among its creditors and proprietors. At the dissolution of a solvent corporation or unincorporated association, the assets are usually liquidated (turned into money) rather than distributed in kind. An insolvent concern, on the other hand, may be liquidated in a receivership (q.v.), in which a court-appointed receiver sells the assets and distributes the proceeds; in general assignments for the benefit of creditors; in bankruptcy; or in the administration of a decedent's estate
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