Terms Used In Alaska Statutes > Title 45 > Chapter 12 > Article 1 - General Provisions

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• commercial unit: means a unit of goods that by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See Alaska Statutes 45.12.103
• consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for personal, family, or household purposes. See Alaska Statutes 45.12.103
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• 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.
• finance lease: means a lease with respect to which
  (A) the lessor does not select, manufacture, or supply the goods. See Alaska Statutes 45.12.103
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• goods: means all things that are movable at the time of identification to the lease contract, or are fixtures under Alaska Stat. See Alaska Statutes 45.12.103
• 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}
• 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: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Alaska Statutes 45.12.103
• 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}
• lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. See Alaska Statutes 45.12.103
• lease contract: means the total legal obligation that results from the lease agreement as affected by this chapter and other applicable rules of law. See Alaska Statutes 45.12.103
• leasehold interest: means the interest of the lessor or the lessee under a lease contract. See Alaska Statutes 45.12.103
• lessee: means a person who acquires the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
• lessor: means a person who transfers the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
• 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.
• 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
• property: includes real and personal property. See Alaska Statutes 01.10.060
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• 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.
• sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See Alaska Statutes 45.12.103
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• writing: includes printing. See Alaska Statutes 01.10.060