Definitions for "Liquidated"
A liquidated debt is a debt for which the exact amount has been established. A debt that the amount has not been determined is considered an unliquidated debt. An example of an unliquidated debt would be where a lawsuit is pending and the court has not ruled on the amount of the damages or claim.
A claim is liquidated when it has been made fixed and certain by the parties concerned.
A debt that is for a known number of dollars is liquidated. An unliquidated debt is one where the debtor has liability, but the exact monetary measure of that liability is unknown. Tort claims are usually unliquidated until a trial fixes the amount of the liability of the tort feasor.