Louisiana Revised Statutes > Title 9 > CODE TITLE II > Chapter 1 > Part VI > Subpart B – Indemnity of the Trustee
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Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE II > Chapter 1 > Part VI > Subpart B - Indemnity of the Trustee
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- 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
- Contract: A legal written agreement that becomes binding when signed.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Person: means an individual or any legal or commercial entity, including a corporation, business trust, partnership, limited liability company, association, or joint venture. See Louisiana Revised Statutes 3:1
- 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.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- Trustee: A person or institution holding and administering property in trust.