Terms Used In Texas Civil Practice and Remedies Code Chapter 127A - Disclosures Regarding Indemnification Obligations and Insurance Coverage Regarding Well or Mine Services Provided by Certain Subcontractors
- Appraisal: A determination of property value.
- 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.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Oversight: Committee review of the activities of a Federal agency or program.
- 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.
- Venue: The geographical location in which a case is tried.