New York Laws > Civil Practice Law and Rules > Article 50-A – Periodic Payment of Judgments in Medical and Dental Malpractice Actions
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Terms Used In New York Laws > Civil Practice Law and Rules > Article 50-A - Periodic Payment of Judgments in Medical and Dental Malpractice Actions
- Amortization: Paying off a loan by regular installments.
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- 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.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Verdict: The decision of a petit jury or a judge.