Based on our generalization of the Goulian-Li continuation in the powe
r of the 2D cosmological term we construct the two- and three-point co
rrelation functions for Liouville exponentials with generic real coeff
icients. As a strong argument in favour of the procedure we prove the
Liouville equation of motion on the level of three-point functions. Th
e analytical structure of the correlation functions as well as some of
its consequences for string theory are discussed. This includes a con
jecture on the mass shell condition for excitations of noncritical str
ings. We also make a comment concerning the correlation functions of t
he Liouville field itself.