Legal Dictionary
Main Entry:
liq·ui·datePronunciation:
'li-kw&-"dAtFunction:
verbInflected Forms:
-dat·ed;
-dat·ing transitive verb
1 : to determine by agreement or litigation the precise amount of;
also : to settle (a debt) by payment or other adjustment
2 a : to determine the liabilities and apportion the assets of esp. in bankruptcy or dissolution <
liquidate a corporation> —compare
BANKRUPTCY b : to convert (as assets) into cash <
liquidate an estate> intransitive verb
: to liquidate something (as a corporation) —
liq·ui·da·tion /"li-kw&-'dA-sh&n/ noun