Terms Used In Indiana Code > Title 27 > Article 9 > Chapter 3.1 - Treatment of Certain Agreements

• actual direct compensatory damages: includes :

  Indiana Code 27-9-3.1-1

• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• business day: means a day other than:

  Indiana Code 27-9-3.1-2

• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Contract: A legal written agreement that becomes binding when signed.
• contractual right: includes the following:

  Indiana Code 27-9-3.1-4

• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• forward contract: has the meaning set forth in the Federal Deposit Insurance Act (Indiana Code 27-9-3.1-5
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• netting agreement: means a new agreement that:

  Indiana Code 27-9-3.1-6

• 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.
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• qualified financial contract: means a commodity contract, forward contract, repurchase agreement, securities contract, swap agreement, or a similar agreement, as determined by the commissioner. See Indiana Code 27-9-3.1-7
• repurchase agreement: has the meaning set forth in the Federal Deposit Insurance Act (Indiana Code 27-9-3.1-8
• securities contract: has the meaning set forth in the Federal Deposit Insurance Act (Indiana Code 27-9-3.1-9
• 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.
• swap agreement: has the meaning set forth in the Federal Deposit Insurance Act (Indiana Code 27-9-3.1-10
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• walkaway clause: means a provision in a netting agreement or qualified financial contract that, after calculation of the value of a party's position or an amount due to or from a party under the netting agreement or qualified financial contract upon termination, liquidation, or acceleration of the netting agreement or qualified financial contract, either:

  Indiana Code 27-9-3.1-11