What does "liquidate" mean?

Liquidate: In an extended sense: To ascertain the amount, or the several amounts, of , and apply assets toward the discharge of (an indebtedness). Abbott.

Additional senses

  1. 2.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.
  2. 3.To make clear and intelligible. Time only can liquidate the meaning of all parts of a compound system. A. Hamilton.
  3. 4.To make liquid. [Obs.] Liquidated damages (Law), damages the amount of which is fixed or ascertained. Abbott.

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