Terms Used In Texas Finance Code Chapter 346 > Subchapter A - General Provisions

• Contract: A legal written agreement that becomes binding when signed.
• Department: means the Department of Agriculture. See Texas Agriculture Code 1.003
• 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}
• Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
• Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) ^{Source: OCC}
• Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005