Terms Used In Florida Statutes > Chapter 684 - International Commercial Arbitration

• Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit. See Florida Statutes 674.104
• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Afternoon: means the period of a day between noon and midnight. See Florida Statutes 674.104
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Arbitral tribunal: means a sole arbitrator or panel of arbitrators. See Florida Statutes 684.0003
• Arbitration: means any arbitration, whether or not administered by a permanent arbitral institution. See Florida Statutes 684.0003
• Arbitration agreement: means an agreement by the parties to submit to arbitration all or certain disputes that have arisen or may arise between them in respect of a defined legal relationship, whether contractual or not. See Florida Statutes 684.0003
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See Florida Statutes 674.104
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Clearinghouse: means an association of banks or other payors regularly clearing items. See Florida Statutes 674.104
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Court: means a circuit court of this state. See Florida Statutes 684.0003
• Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See Florida Statutes 674.104
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (s. See Florida Statutes 674.104
• Draft: means a draft as defined in…. See Florida Statutes 674.104
• Drawee: means a person ordered in a draft to make payment. See Florida Statutes 674.104
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Florida Statutes 674.104
• 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.
• 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.
• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• 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.
• Statute: A law passed by a legislature.
• Testify: Answer questions in court.
• writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01