Terms Used In Michigan Laws > Chapter 285 > Act 487 of 2012 - Wildlife Depredations Indemnification Act

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Appraisal: A determination of property value.
• Commission: means the commission of agriculture and rural development. See Michigan Laws 285.362
• Department: means the department of agriculture and rural development. See Michigan Laws 285.362
• 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}
• Livestock: means that term as it is defined in section 3 of the animal industry act, 1988 PA 466, MCL 287. See Michigan Laws 285.362
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• 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.
• 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.
• Trustee: A person or institution holding and administering property in trust.