Terms Used In California Codes > Commercial Code > Division 3 > Chapter 4 - Liability of Parties

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• agreement: means the total legal obligation that results from the parties' agreement as determined by this code and as supplemented by any other applicable laws. See California Commercial Code 1201
• Bank: means a person engaged in the business of banking, and includes a savings bank, savings and loan association, credit union, and trust company. See California Commercial Code 1201
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• board: means the Board of Vocational Nursing and Psychiatric Technicians of the State of California. See California Business and Professions Code 2841
• City: includes city and county. See California Business and Professions Code 18
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Holder: means :

  California Commercial Code 1201

• Insolvency proceeding: includes an assignment for the benefit of creditors or other proceeding intended to liquidate or rehabilitate the estate of the person involved. See California Commercial Code 1201
• Insolvent: means :

  California Commercial Code 1201

• license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
• Licensee: means any person authorized by a license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Sections 1000 and 3600. See California Business and Professions Code 23.8
• Organization: means a person other than an individual. See California Commercial Code 1201
• Package: includes cartons, wrappers, or other containers which are used for the sale of butter to the retail trade. See California Food and Agricultural Code 37101
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See California Commercial Code 1201
• 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.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Representative: means a person empowered to act for another, including an agent, an officer of a corporation or association, and a trustee, executor, or administrator of an estate. See California Commercial Code 1201
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Right: includes remedy. See California Commercial Code 1201
• Sell: includes offer for sale, expose for sale, possess for sale, exchange, barter, or trade. See California Food and Agricultural Code 44
• Sign: means , with present intent to authenticate or adopt a record:

  California Commercial Code 1201

• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See California Commercial Code 1201
• Surety: includes a guarantor or other secondary obligor. See California Commercial Code 1201
• Unauthorized signature: means a signature made without actual, implied, or apparent authority. See California Commercial Code 1201
• Writing: includes printing, typewriting, or any other intentional reduction to tangible form. See California Commercial Code 1201