Section 998

A the costs allowed under sections 1031 and 1032 shall be withheld or augmented as provided in this section.

Section 998. F police officers shall be. For more detailed codes research information including annotations and citations please visit westlaw. If the costs awarded under this section exceed the amount of the damages awarded to the plaintiff the net amount shall be awarded to the defendant and judgment or award shall be entered accordingly.

For the purposes of section 998 the term foreign currency gain means any gain from a section 988 transaction to the extent such gain does not exceed gain realized by reason of changes in exchange rates on or after the booking date and before the payment date. Petition to the surrogate s court and appeal on westlaw findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system. A statutory offer to compromise codified as the california code of civil procedure ccp section 998 allows for either party involved in a lawsuit the plaintiff or the defendant to offer the other party financial incentive to cut the legal process short and accept a pretrial settlement.

Read this complete new york consolidated laws tax law tax 998. Section 988 of the internal revenue code describes treatment of certain foreign currency transactions a section 988 transaction involves a currency other than the functional currency of the. Section 998 provides a statutorily protected method of making a settlement offer.

In these circumstances a code of civil procedure section 998 offer to compromise can serve an important litigation tool by shifting costs if the prevailing party obtains a judgment less favorable than the offer. California code code of civil procedure ccp 998. That s because ccp 1033 5 10 awards attorneys fees as costs when they are authorized by contract statute or law.

Search by keyword or citation. The term foreign currency loss means any loss from a section 988 transaction to the extent such loss does not exceed the loss realized by reason of changes in exchange rates on or after the booking date and before the payment date.