liquidated damages are agreed amount of money in case something goes wrong in the fulfilment o f a contract while limited liability is liability to certain amount in case of things go wrong

Liquidated means the amount is determined or can be readily calculated (adding interest or penalties, for example). In rare cases, a contract may specify damages in the event of a breach or there may be a statute allowing an amount certain for violations pursued in a private cause of action.

Liquidated damages refers to an amount of money designated and agreed to in advance for damages, before any loss takes place, so that the actual damages need not be calculated.

The difference between an unliquidated debt and a liquidated debt is this: Liquidated Debt: A debt that has an exact monetary value. Unliquidated Debt: A debt that is undisputed as to its amount, but still under the liability of the debtor. Each one of these debts has a statute of limitations to it. I believe they stand at 3 years for liquidated debt, and 6 years for unliquidated debt. These numbers are for Colorado and can change from state to state based on their rulings.

The bankrupt company's assets were liquidated following the court proceedings.

(The word liquidated was also used as a euphemism to indicate killing off rivals or political opponents.)