Liquidate /(lĭk"wĭ*dāt)/

imp. & p. p. Liquidated; p. pr. & vb. n. Liquidating

1. To determine by agreement or by litigation the precise amount of (indebtedness); or, where there is an indebtedness to more than one person, to determine the precise amount of (each indebtedness); to make the amount of (an indebtedness) clear and certain. (Law)

   A debt or demand is liquidated whenever the amount due is agreed on by the parties, or fixed by the operation of law.

   If our epistolary accounts were fairly liquidated, I believe you would be brought in considerable debtor.

2. In an extended sense: To ascertain the amount, or the several amounts, of, and apply assets toward the discharge of (an indebtedness).
3. To discharge; to pay off or settle, as an indebtedness.

   Friburg was ceded to Zurich by Sigismund to liquidate a debt of a thousand florins.

4. To make clear and intelligible.

   Time only can liquidate the meaning of all parts of a compound system.

5. To make liquid. [Obs.]
6. To convert (assets) into cash.
7. To kill; -- used mostly of governments or organizations killing their enemies; as, Stalin liquidated many of the Kulaks.
8. To dissolve (an organization); to terminate (an activity).