CFR > Title 40 > Chapter I > Subchapter A > Part 13 > Subpart D – Compromise of Debts
Current as of: 2024 | Check for updates
|
Other versions
| § 13.24 | General |
| § 13.25 | Standards for compromise |
| § 13.26 | Payment of compromised claims |
| § 13.27 | Joint and several liability |
| § 13.28 | Execution of releases |
Terms Used In CFR > Title 40 > Chapter I > Subchapter A > Part 13 > Subpart D - Compromise of Debts
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fraud: Intentional deception resulting in injury to another.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- 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.