North Carolina General Statutes 44A-50. Definitions
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Terms Used In North Carolina General Statutes 44A-50
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
As used in this Article, the following terms mean:
(1) Aircraft. – As the term is defined in N.C. Gen. Stat. § 63-1(3), or any engine, part, component, or accessory, whether affixed to or separate from the aircraft.
(2) Lienor. – A person entitled to a lien under this Article.
(3) Owner. – As the term is defined in N.C. Gen. Stat. § 44A-1(3) for an aircraft, or any person authorized by an owner, as defined in N.C. Gen. Stat. § 44A-1(3), to perform, contract, or arrange for the provision of labor, skill, materials, or storage with respect to any aircraft.
(4) Person. – Any individual, corporation, association, partnership, whether limited or general, limited liability company, or other entity. (2006-222, s. 1.1.)