Hawaii Revised Statutes 103-55.6 – Public works construction; apprenticeship agreement
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Terms Used In Hawaii Revised Statutes 103-55.6
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- 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
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
