1) Not easily cashed in 2) Not liquid 
In the context of corporate finance, the absence of cash flow needed to fulfill financial debts and meet obligations. In the context of investments, describes a thinly traded investment such as a stock or bond that is not easily converted into cash. Illiquid securities have high transactions costs. Often the bid-ask spread is very wide.
An asset or investment that cannot readily be converted into cash.
A corporation's dividend that is declared in violation of its charter and/or of state laws, typicall
An asset not readily convertible into cash. Illiquid investments include antique cars, paintings and stamp collections. An illiquid security is one without an active secondary market
not readily convertible into cash; not liquid.