CFR > Title 10 > Chapter II > Subchapter D > Part 431 > Subpart R > Test Procedures
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Terms Used In CFR > Title 10 > Chapter II > Subchapter D > Part 431 > Subpart R > Test Procedures
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.