Louisiana Codes > Code of Civil Procedure > BOOK VII > Title VII-A – Administration of Court Judgment in Favor of Minor
Terms Used In Louisiana Codes > Code of Civil Procedure > BOOK VII > Title VII-A
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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.
- Trustee: A person or institution holding and administering property in trust.