Maryland Code > COMMERCIAL LAW > Title 15 > Subtitle 7 – Offsets
Current as of: 2023 | Check for updates
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Other versions
| § 15-701 | Definitions |
| § 15-702 | Offsets against consumer debts prohibited |
Terms Used In Maryland Code > COMMERCIAL LAW > Title 15 > Subtitle 7 - Offsets
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- 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.