Put simply, it would be non-Evangelical, non-Fundamentalist theology, in which the Bible is not THE word of God and individuals can decide for themselves to ignore certain Scriptural commands, etc.
Ah, so it is SOMEONE's definition of someone elses beliefs ( by the sounds of it an evangelical/fundamentalist, LOL ).
Well, since lables mean so much ( not) then I guess one has to look back and see what exactly the 1st century followers of Christ were and were doing.
They believed that Jesus was the Word of God and not some collection of writings, they quoted the OT ( the NT didn't exist yet) WHEN it matched what Jesus taught and when it didn't, Jesus's teachings overruled it ( the OT).
Jesus gave them new commandments and they themselves, via the Holy Spirit, "ignored" certain scriptural commandments (dealing with gentiles, food, circumcission, etc), so it would seem that the first followers of Christ were "liberal Christians".