Terms Used In California Codes > Financial Code > Division 24 > Chapter 5 - Definitions

• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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}
• Notice: includes all papers and orders required to be served in any proceedings before any court, board, or officer, or when required by law to be served independently of such proceeding. See California Government Code 26660
• Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18
• Process: includes all writs, warrants, summons, and orders of courts of justice, or judicial officers. See California Government Code 26660
• 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.