Terms Used In Alaska Statutes > Title 32 > Chapter 11 - Uniform Limited Partnership Act

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• board: means the state Board of Education and Early Development. See Alaska Statutes 14.60.010
• certificate of limited partnership: means the certificate referred to in Alaska Stat. See Alaska Statutes 32.11.900
• commissioner: means the commissioner of commerce, community, and economic development. See Alaska Statutes 32.11.900
• commissioner: means the commissioner of education and early development. See Alaska Statutes 14.60.010
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• contribution: means cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, that a partner contributes to a limited partnership as a partner. See Alaska Statutes 32.11.900
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 32.11.900
• department: means the Department of Education and Early Development. See Alaska Statutes 14.60.010
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• event of withdrawal of a general partner: means an event that causes a person to cease to be a general partner under Alaska Stat. See Alaska Statutes 32.11.900
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• 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}
• foreign limited partnership: means a partnership formed under the laws of a state other than this state and having as partners one or more general partners and one or more limited partners. See Alaska Statutes 32.11.900
• general partner: means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner. See Alaska Statutes 32.11.900
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• limited partner: means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement. See Alaska Statutes 32.11.900
• month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• partner: means a limited or general partner. See Alaska Statutes 32.11.900
• 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.
• partnership agreement: means a valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business. See Alaska Statutes 32.11.900
• partnership interest: means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets. See Alaska Statutes 32.11.900
• person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• property: includes real and personal property. See Alaska Statutes 01.10.060
• school board: means the school board of a borough or city school district or a regional educational attendance area. See Alaska Statutes 14.60.010
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• state: means a state, territory, or possession of the United States, District of Columbia, or Commonwealth of Puerto Rico. See Alaska Statutes 32.11.900
• state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
• Statute: A law passed by a legislature.
• Trustee: A person or institution holding and administering property in trust.
• writing: includes printing. See Alaska Statutes 01.10.060