Terms Used In California Codes > Probate Code > Division 4 > Part 8 > Chapter 3 - Compromise by Parent of Minor's Disputed Claim

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Financial institution: means a state or national bank, state or federal savings and loan association or credit union, or like organization. See California Probate Code 40
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Parent: means any individual entitled to take as a parent under this code by intestate succession from the child whose relationship is involved. See California Probate Code 54
• Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
• Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
• State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See California Probate Code 74