Liquidated Debt Law and Legal Definition
Liquidated debt is a debt which has been paid. It is a debt, the amount of which has been determined by agreement between the parties or by legal proceedings.
A debt is liquidated when it is certain what is due and how much is due: cum certum est an et quantum debeatur. [Roberts v. Prior, 20 Ga. 561, 562 (Ga. 1856)].