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LSDefine

Simple English definitions for legal terms

liquidated account

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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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JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
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