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Simple English definitions for legal terms

liquidated account

Read a random definition: stigma-plus doctrine

A quick definition of liquidated account:

A liquidated account is a type of account that has a clear and agreed-upon amount of money in it. This means that everyone involved knows exactly how much money is in the account. It is different from an unliquidated account, which has an uncertain amount of money in it. Liquidated accounts are often used in legal cases where one person owes money to another person. They help to make sure that everyone is on the same page about how much money is owed.

A more thorough explanation:

Definition: A liquidated account is an account whose assets are clearly ascertained, either by agreement of the parties or by law.

Example: A company and its supplier agree on the price and quantity of goods to be delivered. The supplier delivers the goods and the company pays the agreed-upon amount. This is a liquidated account because the assets (goods and money) are clearly ascertained by agreement.

Explanation: In a liquidated account, there is no uncertainty or dispute about the assets involved. The parties have agreed on the amount and nature of the assets, or the law has determined them. This is in contrast to an unliquidated account, where the amount or nature of the assets is uncertain or disputed. For example, if a company is suing a former employee for damages caused by their negligence, the amount of damages may be unliquidated until a court determines the amount owed.

liquidated | liquidated amount

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General chat about the legal profession.
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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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