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Liquidated
LiquidatedThat which is made clear, certain, and manifest; as, liquidated damages, ascertained damages liquidated debt, an ascertained debt, as to amount. 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. An unliquidated claim is one which one of the parties to the contract cannot alone render certain. RELATED TERMS-------------------------------------- Manifest 1) Evidence. That which is clear and requires no proof; that which is noto- rious. 2)Common law. A written instrument containing a true account of the cargo of a ship or commercial vessel. Liquidated That which is made clear, certain, and manifest; as, liquidated damages, ascertained damages liquidated debt, an ascertained debt, as to amount. 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. An unliquidated claim is one which one of the parties to the contract cannot alone render certain. Damages A cash compensation ordered by a court to offset losses or suffering caused by another's fault or negligence. Damages are a typical request made of a court when persons sue for breach of contract or tort. Debt Whatever one owes. A sum of money due by certain and express agreement. When 1) At which time, in wills, standing by itself unqualified and unexplained, this is a word of condition denoting the time at which the gift is to continence. 2) The context of a will may show that the word when is to be applied to the possession only, not to the vesting of a legacy; but to justify this construction, there must be circumstances, or other expressions in the will, showing such to have been the testator's intent. Due What ought to be paid; what may be demanded. Quantum (United Kingdom) How much, an amount. Claim A demand for resolution or remedy of a grievance, or for something that is rightly the claimant's. Example: A demand for payment to recover a loss protected by an insurance policy. A demand in a court of law filed by a claimant on any juridical issue he / she considers. Parties Contracts. Those persons who engage themselves to do, or not to do the matters and things contained in an agreement. Contract A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract. Render To yield; to return; to give again; it is the reverse of prender. SIMILAR TERMS-------------------------------------- Liquidated damages By this term is understood the fixed amount which a party to an agreement promises to pay to the other, in case he shall not fulfil some primary or principal engagement into which he has entered by the same agreement it differs from a penalty. Liquidation A fixed and determinate valuation of things which before were uncertain. Liquidation value The price that an owner is compelled to accept when a property must be sold without reasonable market exposure. Liquidator The liquidator is the person, other than the Official Receiver, responsible for dealing with the winding up of a company. PREVIOUS AND NEXT TERMS-------------------------------------- Lineal That which comes in a line. Lineal consanguinity is that which subsists between persons, one of whom is descended in a direct line from the other. Lineal descent, is that which takes place among lineal kindred. Lineal descendant A person who is a direct descendant such as a child to his or her natural parent. Lineal warranty Old English law. A warranty by the heir, when he derived title to the land warranted, either from or through, the ancestor who made the warranty. Liner A vessel habitually employed on a regular schedule and loading and discharging at specified ports. Liner terms Liner terms refer to the ordinary responsibility of the shipowner under a charterparty to control and pay for the loading, stowage, trimming and discharge of the cargo of the charterer. Liquidated Liquidated damages By this term is understood the fixed amount which a party to an agreement promises to pay to the other, in case he shall not fulfil some primary or principal engagement into which he has entered by the same agreement it differs from a penalty. Liquidation A fixed and determinate valuation of things which before were uncertain. Liquidation value The price that an owner is compelled to accept when a property must be sold without reasonable market exposure. Liquidator The liquidator is the person, other than the Official Receiver, responsible for dealing with the winding up of a company. Lira The name of a foreign coin. In all computations at the custom house, the lira of Sardinia shall be estimated at eighteen cents and six mills. Act of March 22, 1846. The lira of the Lombardo-Venitian Kingdom, and the lira of Tuscany, at sixteen cents. Act of March 22, 1846. We thank you for using the Juridical Dictionary to search for Liquidated. If you have a better definition for Liquidated than the one presented here, please let us know by making use of the suggest a term option. This definition of Liquidated may be disputed by other professionals. Our attempt is to provide easy definitions on Liquidated and any other medical topic for the public at large.
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