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liquidation |
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liquidationIn economics, the winding up of a company by converting all its assets into money to pay off its liabilities. |
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| We were seized for the debts occasioned by their illness and their funerals, and placed among the attractions of a cheap museum in Berlin to earn the liquidation money. The immediate pressure of this inequality was not in this case, as in that of the contributions of money, alleviated by the hope of a final liquidation. Halfacre went into liquidation, as it is called, and compromised with his creditors, reserving to himself a pretty little capital of some eighty or a hundred thousand dollars, by means of judicious payments to confidential creditors, his wife and daughter saw all THEY most prized taken away, and the town was filled with the magnitude of their sacrifices, and with the handsome manner in which both submitted to make them. |
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