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Liquidated Debt
A debt where the amount owed is known and determined, not subject to future conditions.
Unliquidated Debt
A debt that has not been determined or calculated because the exact amount owed may not be known.
Consideration
The value (monetary, goods, services, promise) that is given by both parties in a contract, making the agreement legally binding.
Liquidated Debt
A debt for which the exact monetary value has been determined and is acknowledged by all parties involved.
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