illiquidadj.
/ɪˈlɪkwᵻd/ Law.
a. Of a right, debt, or claim: Not clear or manifest; not ascertained and constituted either by a written obligation or by a decree of a court.
ΘΚΠ
society > law > rule of law > illegality > [adjective] > legally invalid or faulty > of limited legal validity > not specially supported or confirmed
simple1340
nakedc1400
nude1493
illiquid1694
1694 in Fountainhall's Decisions (1759) I. 640 That in such illiquid rights, where they had not obtained possession, it was hard to put an estimate and value thereon.
1880 J. Muirhead tr. Gaius Institutes iv. 295 A sort of anticipatory limitation, commonly called taxation, following on an illiquid claim.
1884 Law Times Rep. 51 581/2 To ascertain whether the claim was liquid or illiquid.
b. Of an asset, investment, etc.: not easily or readily realizable.
ΘΚΠ
society > trade and finance > financial dealings > types of money-dealing > [adjective] > capable of being converted into cash > not
unrealizable1883
illiquid1913
frozen1922
1913 Globe 24 Oct. 6/4 Is cottage property a safe investment for the Reserve Fund? It is an illiquid asset, and a sudden drain on a fund thus locked up might be very inconvenient.
1930 Times 26 Mar. 26/7 Slow and illiquid loans and investments.
1948 G. Crowther Outl. Money (rev. ed.) ii. 80 There is some difference between having a variety of small loans in different degrees illiquid, and being closely associated..with one or two large concerns that are known to be doing badly.
1973 M. Woodhouse Blue Bone xv. 167 One is liquid or illiquid at awkward times, just as with any other business.
Derivatives
illiˈquidity n. the character of being illiquid.
ΘΚΠ
society > trade and finance > financial dealings > types of money-dealing > [noun] > converting into money or cash > ability to be readily cashed > inability
illiquidity1927
1927 Glasgow Herald 18 Apr. 9 The illiquidity of credit in Japan.
1971 Nature 5 Feb. 363/2 Some of the officers of the British Association seem to be hoping that they can solve their chronic problem of what is called illiquidity by merging either with the Royal Society of Arts or with the Royal Institution.
1972 Real Estate Rev. Winter 27/2 Illiquidity is generally valued at about 1·5 percent to 2·0 percent in most analyses of the capitalization rate, so the equity trust shareholder holds his own quite nicely in the return contest upon closer inspection.
This entry has not yet been fully updated (first published 1899; most recently modified version published online March 2018).
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adj.1694