Terms Used In Nevada Revised Statutes > Chapter 87 - Partnerships

• 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 Nevada Revised Statutes 104.4104
• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Allegation: something that someone says happened.
• Amortization: Paying off a loan by regular installments.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Bailee: means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them. See Nevada Revised Statutes 104.7102
• Banking day: means that part of any day on which a bank is open to the public for carrying on substantially all of its banking functions. See Nevada Revised Statutes 104.4104
• Carrier: means a person that issues a bill of lading. See Nevada Revised Statutes 104.7102
• Chambers: A judge's office.
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Clearinghouse: means any association of banks or other payors regularly clearing items. See Nevada Revised Statutes 104.4104
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Conference report: The compromise product negotiated by the conference committee. The "conference report" is submitted to each chamber for its consideration, such as approval or disapproval.
• Conscious disregard: means the knowledge of the probable harmful consequences of a wrongful act and a willful and deliberate failure to act to avoid those consequences. See Nevada Revised Statutes 42.001
• Consignee: means a person named in a bill of lading to which or to whose order the bill promises delivery. See Nevada Revised Statutes 104.7102
• Consignor: means a person named in a bill of lading as the person from whom the goods have been received for shipment. See Nevada Revised Statutes 104.7102
• Customer: means any 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 Nevada Revised Statutes 104.4104
• Delivery order: means a record that contains an order to deliver goods directed to a warehouse, carrier or other person that in the ordinary course of business issues warehouse receipts or bills of lading. See Nevada Revised Statutes 104.7102
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Docket: A log containing brief entries of court proceedings.
• Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities or instructions for uncertificated securities, or other certificates, statements or the like are to be received by the drawee or other payor before acceptance or payment of the draft. See Nevada Revised Statutes 104.4104
• Dower: A widow
• Draft: means a draft as defined in NRS 104. See Nevada Revised Statutes 104.4104
• Drawee: means a person ordered in a draft to make payment. See Nevada Revised Statutes 104.4104
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Nevada Revised Statutes 104.7102
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Nevada Revised Statutes 104.7102
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Nevada Revised Statutes 104.4104
• Juror: A person who is on the jury.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Oppression: means despicable conduct that subjects a person to cruel and unjust hardship with conscious disregard of the rights of the person. See Nevada Revised Statutes 42.001
• Oversight: Committee review of the activities of a Federal agency or program.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Recess: A temporary interruption of the legislative business.
• 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}
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Service of process: The service of writs or summonses to the appropriate party.
• Shipper: means a person that enters into a contract of transportation with a carrier. See Nevada Revised Statutes 104.7102
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• summary proceeding: means an action governed by the provisions of this chapter. See Nevada Revised Statutes 29A.010
• Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
• Verdict: The decision of a petit jury or a judge.
• Voir dire: The process by which judges and lawyers select a petit jury from among those eligible to serve, by questioning them to determine knowledge of the facts of the case and a willingness to decide the case only on the evidence presented in court. "Voir dire" is a phrase meaning "to speak the truth."
• Warehouse: means a person engaged in the business of storing goods for hire. See Nevada Revised Statutes 104.7102
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.