Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE XXI > Chapter 1 > Part V - Logs and Lumber

• Agent: means a person who solicits prospective purchasers or negotiates on behalf of a seller. See Louisiana Revised Statutes 51:1821
• 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}
• Business opportunity: means the sale or lease for an initial required consideration exceeding three hundred dollars of any goods or services which are transferred to a purchaser for the purpose of enabling the purchaser to start a business, and in which the seller or agent:

  (a)  Represents that the seller or an entity to which it will refer the purchaser, will provide or assist the purchaser in finding business locations on premises neither owned nor leased by the purchaser or seller for the use or operation of vending machines, racks, display cases, currency-operated amusement machines, or other similar devices; or

  (b)  Represents that the seller, or any entity to which it will refer the purchaser, will purchase any or all products to be sold, made, produced, fabricated, assembled, grown, bred, or modified by the purchaser using in whole or in part the supplies, services, or goods sold to the purchaser by the seller; or

  (c)  Guarantees that the purchaser is to derive income from the business opportunity which exceeds the price paid for the business opportunity, or that the seller is to refund all or part of the price paid for the business opportunity, or repurchase any of the products, equipment, supplies, or goods supplied by the seller, if the purchaser is unsatisfied with the business opportunity; or

  (d)  Represents that for a fee exceeding three hundred dollars the seller will provide a sales plan or marketing program which will enable the purchaser to derive income from the business opportunity which exceeds the price paid for the business opportunity. See Louisiana Revised Statutes 51:1821

• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Class B fire fighting foam: means any foam designed to extinguish flammable liquid fires. See Louisiana Revised Statutes 40:1615
• Department: means the Department of Justice. See Louisiana Revised Statutes 51:1821
• Donor: The person who makes a gift.
• Episode: shall mean a singular instance in which a youth is placed under the supervision, care, or custody of the office of juvenile justice. See Louisiana Revised Statutes 15:932
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Initial required consideration: includes consideration required by express condition or practical necessity, or for which the buyer or lessee becomes obligated before the commencement of the business, or during the following one hundred eighty days. See Louisiana Revised Statutes 51:1821
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• 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.
• office: shall mean the Department of Public Safety and Corrections, youth services, office of juvenile justice. See Louisiana Revised Statutes 15:932
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Person: means an individual, association, joint venture, partnership, corporation, limited liability company, political subdivision, municipality, or public or private organization of any character, including any agency, department, board, bureau, office, commission, district, corporation, and quasi-public corporation of the federal, state, municipal, or local government. See Louisiana Revised Statutes 40:1615
• PFAS chemicals: means a class of fluorinated organic chemicals containing at least one fully fluorinated carbon atom, including perfluoroalkyl and polyfluoroalkyl substances, and designed to be fully functional in Class B fire fighting foam formulations. See Louisiana Revised Statutes 40:1615
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Seller: means a person or entity which sells or leases, or offers to sell or to lease a business opportunity. See Louisiana Revised Statutes 51:1821
• Service of process: The service of writs or summonses to the appropriate party.
• Statute: A law passed by a legislature.
• Testing: means calibration testing, conformance testing, or fixed system testing. See Louisiana Revised Statutes 40:1615
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.