Webster's English Dictionary

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liquidate

liq.ui.date \'lik-w*-.da-t\ \.lik-w*-'da--sh*n\ vb [LL liquidatus, pp. of 
   liquidare to melt, fr. L liquidus] 1a1: to determine by agreement or by 
   litigation the precise amount of (ind ebtedness, damages, accounts) 1a2: to 
   determine the liabilities and apportion assets toward discharging  the 
   indebtedness of 1b: to settle (a debt) by payment or other settlement  2: 
   to get rid of; specif : KILL  archaic  3: to make clear  4: to convert 
   (assets) into cash  1: to liquidate debts or damages or accounts  2: to 
   determine liabilities and apportion assets toward discharging indebt edness 
   - liq.ui.da.tion n