Lectionary Calendar
Friday, November 22nd, 2024
the Week of Proper 28 / Ordinary 33
Attention!
Tired of seeing ads while studying? Now you can enjoy an "Ads Free" version of the site for as little as 10¢ a day and support a great cause!
Click here to learn more!

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