A debt or demand is liquidated whenever the amount
due is agreed on by the parties, or fixed by the
operation of law. --15 Ga. Rep.
321.
If our epistolary accounts were fairly liquidated, I
believe you would be brought in considerable debtor.
--Chesterfield.
2. In an extended sense: To ascertain the amount, or the
several amounts, of, and apply assets toward the discharge
of (an indebtedness). --Abbott.
3. To discharge; to pay off, as an indebtedness.
Friburg was ceded to Zurich by Sigismund to
liquidate a debt of a thousand florins. --W. Coxe.
4. To make clear and intelligible.
Time only can liquidate the meaning of all parts of
a compound system. --A. Hamilton.
{Liquidated damages} (Law), damages the amount of which is
fixed or ascertained. --Abbott.