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LIQUIDATE Definition & Legal Meaning

Definition & Citations:

To adjust or settle an indebtedness ; to determine an amount to be paid; to clear up an account and ascertain the balance; to fix the amount required to satisfy a judgment. Midgett v. Watson, 29 N. C. 145; Martin v. Kirk, 2 Humph. (Tenn.) 531. To clear away; to lessen; to pay. “To liquidate a balance means to pay it.” Fleck- ner v. Rank of U. S., 8 Wheat. 338, 302, 5 L. Ed. 031.

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