Ascertained; determined; fixed; settled; made clear or manifest. Cleared away; paid; discharged. Liquidated account. An account whereof the amount is certain and fixed, either by the act and agreement of the parties or by operation of law; a sum which cannot be changed by the proof; it is so much or nothing; but the term does not necessarily refer to a writing. Nisbet v. … [Read more...] about LIQUIDATED
L
LISTING
An advertisement. Something of value placed on a list of other items offered for sale. … [Read more...] about LISTING
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 fulfill some primary or principal engagement into which he has entered by the same agreement it differs from a penalty. Vide Damages liquidated. 2. The damages will be considered as liquidated in the following cases: 1. When the damages are uncertain, and … [Read more...] about LIQUIDATED DAMAGES
LISTING AGREEMENT
A formal contract with a broker to sell or lease property at a certain price and with certain terms and which authorizes the broker to list the item so as to make the public aware of the availability of the property. Usually the broker will receive compensation that includes commission for the successful sale or lease of the item and may include other compensation. With regard … [Read more...] about LISTING AGREEMENT
LIQUIDATING PARTNER
The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership. The partner who upon the dissolution or insolvency of the firm, is appointed to settle its accounts, collect assets, adjust claims, and pay debts. … [Read more...] about LIQUIDATING PARTNER