Maryland Code > CORPORATIONS AND ASSOCIATIONS > Title 4 – Close Corporations
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Terms Used In Maryland Code > CORPORATIONS AND ASSOCIATIONS > Title 4 - Close Corporations
- Adult: means an individual at least 18 years old. See
- Appraisal: A determination of property value.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bequest: Property gifted by will.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- de novo: means judicial review based on an administrative record and any additional evidence that would be authorized by § 10-222(f) and (g) of the State Government Article. See
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- 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.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- minor: means an individual under the age of 18 years. See
- Personal representative: includes an administrator and an executor. See
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Uphold: The decision of an appellate court not to reverse a lower court decision.