(definition) by Webster 1913 Wed Dec 22 1999 at 0:54:15

Liq`ui*da"tion (?), n. [Cf. F. liquidation.]

The act or process of liquidating; the state of being liquidated.

To go into liquidation Law, to turn over to a trustee one's assets and accounts, in order that the several amounts of one's indebtedness be authoritatively ascertained, and that the assets may be applied toward their discharge.

 

© Webster 1913.

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