Lectionary Calendar
Saturday, November 2nd, 2024
the Week of Proper 25 / Ordinary 30
Attention!
StudyLight.org has pledged to help build churches in Uganda. Help us with that pledge and support pastors in the heart of Africa.
Click here to join the effort!

Bible Encyclopedias
Liquidation

1911 Encyclopedia Britannica

Search for…
or
A B C D E F G H I J K L M N O P Q R S T U V W Y Z
Prev Entry
Liquidambar
Next Entry
Liquor Laws
Resource Toolbox
Additional Links

(i.e. making "liquid" or clear), in law, the clearing off or settling of a debt. The word was more especially used in bankruptcy law to define the method by which, under the Bankruptcy Act 186 9, the affairs of an insolvent debtor were arranged and a composition accepted by his creditors without actual bankruptcy. It was abolished by the Bankruptcy Act 1883 (see Bankruptcy). In a general sense, liquidation is used for the act of adjusting debts, as the Egyptian Law of Liquidation, July 1880, for a general settlement of the liabilities of Egypt. In company law, liquidation is the winding up and dissolving a company. The winding up may be either voluntary or compulsory, and an officer, termed a liquidator, is appointed, who takes into his custody all the property of the company and performs such duties as are necessary on its behalf (see Company) .

Bibliography Information
Chisholm, Hugh, General Editor. Entry for 'Liquidation'. 1911 Encyclopedia Britanica. https://www.studylight.org/​encyclopedias/​eng/​bri/​l/liquidation.html. 1910.
 
adsfree-icon
Ads FreeProfile