Definify.com
Webster 1913 Edition
Liquidation
Liqˊui-da′tion
(lĭkˊwĭ-dā′shŭn)
, Noun.
[Cf. F.
liquidation
.] The act or process of liquidating; the state of being liquidated.
To go into liquidation
(Law)
, to turn over to a trustee one’s assets and accounts, in order that the several amounts of one's indebtedness may be authoritatively ascertained, and that the assets may be applied toward their discharge.
Webster 1828 Edition
Liquidation
LIQUIDA'TION
,Noun.