liquidated debt

A debt which has been paid. A debt, the amount of which has been determined by agreement between the parties or by legal proceedings. A debt is liquidated when it is certain what is due and how much is due; cum certum est an et quantum debeatur. For although it may appear that something is due, if it does not also appear how much is due, the debt is not liquidated. Roberts v Prior, 20 Ga 561, 562.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • debt — n [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe] 1: something owed: as a: a specific sum of money or a performance due another esp. by agreement (as a loan… …   Law dictionary

  • liquidated — Ascertained; determined; fixed; settled; made clear or manifest. Cleared away; paid; discharged. Adjusted, certain, or settled. Murchison v. Levy Plumbing Co., Tex.Civ.App., 73 S.W.2d 967, 968. Declared by the parties as to amount, U. S. v.… …   Black's law dictionary

  • debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 …   Black's law dictionary

  • liquidated demand — A demand ascertained in reference to the amount. A demand which is undisputed as to amount. See liquidated debt …   Ballentine's law dictionary

  • liquidated — A debt that is for a known number of dollars is liquidated. An unliquidated debt is one where the debtor has liability, but the exact monetary measure of that liability is unknown. Tort claims are usually unliquidated until a trial fixes the… …   Glossary of Bankruptcy

  • Liquidated — Liquidate Liq ui*date (l[i^]k w[i^]*d[=a]t), v. t. [imp. & p. p. {Liquidated} ( d[=a] t[e^]d); p. pr. & vb. n. {Liquidating}.] [LL. liquidatus, p. p. of liquidare to liquidate, fr. L. liquidus liquid, clear. See {Liquid}.] 1. (Law) To determine… …   The Collaborative International Dictionary of English

  • Liquidated damages — Liquidate Liq ui*date (l[i^]k w[i^]*d[=a]t), v. t. [imp. & p. p. {Liquidated} ( d[=a] t[e^]d); p. pr. & vb. n. {Liquidating}.] [LL. liquidatus, p. p. of liquidare to liquidate, fr. L. liquidus liquid, clear. See {Liquid}.] 1. (Law) To determine… …   The Collaborative International Dictionary of English

  • debt due — Literally, an obligation which is due, that is, mature. Within the meaning of a garnishment statute, a debt is due and therefore subject to a garnishment when there is an existing obligation to pay in the present or in the future. That is, the… …   Ballentine's law dictionary

  • liquidated — adj. bankrupt; closed (of a business); paid off; converted into cash; destroyed; changed into a liquid liq·ui·date || lɪkwɪdeɪt v. pay off a debt; determine and discharge the financial obligations of a business in preparation for closure; be …   English contemporary dictionary

  • liquidated — Paid. Wound up, as in reference to the affairs of a business. Determined as to amount, as in reference to a debt …   Ballentine's law dictionary

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