Terms Used In Oregon Statutes > Chapter 806 - Financial Responsibility Law

• Acceptor: means a drawee who has accepted a draft. See Oregon Statutes 73.0103
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• 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}
• Board: means the State Land Board. See Oregon Statutes 273.006
• County court: includes board of county commissioners. See Oregon Statutes 174.100
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of State Lands. See Oregon Statutes 273.006
• Director: means the Director of the Department of State Lands. See Oregon Statutes 273.006
• Drawee: means a person ordered in a draft to make payment. See Oregon Statutes 73.0103
• Drawer: means a person who signs or is identified in a draft as a person ordering payment. See Oregon Statutes 73.0103
• Fraud: Intentional deception resulting in injury to another.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Land: includes water, water rights, easements of every nature and all appurtenances to land. See Oregon Statutes 273.006
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Maker: means a person who signs or is identified in a note as a person undertaking to pay. See Oregon Statutes 73.0103
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Party: means a party to an instrument. See Oregon Statutes 73.0103
• Personal property: All property that is not real property.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• 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}
• Statute: A law passed by a legislature.