Terms Used In Alaska Statutes > Title 45 > Chapter 45 > Article 1 - Interest

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• Contract: A legal written agreement that becomes binding when signed.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• 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.
• property: includes real and personal property. See Alaska Statutes 01.10.060
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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.
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}