liquidation

liquidation
The extinguishment of a debt by payment. Flecker v Bank of United States (US) 8 Wheat 338, 5 L Ed 631. The ascertainment of the amount of a debt or demand by agreement or by legal proceedings. In a more common sense of the term, the winding up of a corporation, partnership, or other business enterprise upon dissolution by converting the assets to money, collecting accounts receivable, paying debts, and distributing the net proceeds, if any, among the shareholders, partners, or owners of the business. Garrett Co. v Morton, 35 Misc 10, 71 NYS 17. The winding up of the affairs of a corporation by reducing its assets, paying its debts, and apportioning the surplus, if there be a surplus. Young v Blandin, 215 Minn 111, 9 NW2d 313. See partial liquidation.

Ballentine's law dictionary. . 1998.

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  • Liquidation — Liquidation …   Deutsch Wörterbuch

  • liquidation — [ likidasjɔ̃ ] n. f. • 1416; de liquider I ♦ 1 ♦ Dr. Action de calculer le montant de sommes à régler; le règlement de ces sommes. Liquidation des dépens par le tribunal. Liquidation de l impôt : calcul des impôts à recouvrer sur chaque… …   Encyclopédie Universelle

  • liquidation — index aberemurder, assassination, cancellation, composition (agreement in bankruptcy), discharge (payment), dispatch (act of putting to death) …   Law dictionary

  • liquidation — Liquidation. s. f. v. Action par laquelle on liquide en matiere d affaires ce qui estoit embarassé & incertain. Liquidation de despens. liquidation d interests. il travaille à la liquidation de ses dettes, de son bien &c …   Dictionnaire de l'Académie française

  • Liquidation — Liq ui*da tion (l[i^]k w[i^]*d[=a] sh[u^]n), n. [Cf. F. liquidation.] The act or process of liquidating; the state of being liquidated. [1913 Webster] {To go into liquidation} (Law), to turn over to a trustee one s assets and accounts, in order… …   The Collaborative International Dictionary of English

  • liquidation — [lik΄wi dā′shən] n. a liquidating or being liquidated go into liquidation to close one s business by collecting assets and settling all debts …   English World dictionary

  • Liquidation — (lat.), die Auseinandersetzung nach beendigtem Geschäft oder nach geleisteter Dienstverrichtung; daher liquidieren, soviel wie Kosten, Gebühren etc. berechnen. Auch die Rechnung selbst heißt L. Der liquidierte Betrag wird Liquidum genannt, doch… …   Meyers Großes Konversations-Lexikon

  • Liquidation — (lat.), Kostenberechnung; Abwicklung eines aufgegebenen Geschäfts; Liquidationskassen, Liquidationsbureaus, handelstechnische Einrichtungen zur Vereinfachung der Abrechnung von Zeitgeschäften; Liquidātor, bei Auflösung von Handelsgesellschaften… …   Kleines Konversations-Lexikon

  • liquidation — the dissolution of a company, or individual; usually operations cease and assets are sold by auction; Chapter 7 is usually employed for liquidations, businesses or individuals (Glossary of Common Bankruptcy Terms) The sale of a debtor s… …   Glossary of Bankruptcy

  • Liquidation — Liquidation,die:1.⇨Auflösung(1)–2.⇨Rechnung(1) …   Das Wörterbuch der Synonyme

  • liquidation — 1570s, noun of action from L.L. liquidare (see LIQUIDATE (Cf. liquidate)); originally as a legal term in reference to assets; of inconvenient groups of persons, 1925 in communist writings …   Etymology dictionary

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