Terms Used In California Codes > Code of Civil Procedure > Part 2 > Title 9 > Division 2 > Chapter 6 > Article 9 - Enforcement Against Franchise

• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• creditor: means the state or the department or agency of the state seeking to collect the liability. See California Code of Civil Procedure 688.040
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• debtor: means the debtor from whom the liability is sought to be collected. See California Code of Civil Procedure 688.040
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• franchise: means a franchise granted by a public entity and all the rights and privileges thereof, other than the franchise of being a corporation. See California Code of Civil Procedure 708.910
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes a corporation as well as a natural person. See California Corporations Code 18
• Property: includes both personal and real property. See California Code of Civil Procedure 17
• State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77
• Will: includes codicil. See California Code of Civil Procedure 17