Terms Used In Arizona Laws > Title 44 > Chapter 20
Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
Affected county: means each existing county affected by a proposed formation of new counties. See Arizona Laws 11-131
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
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.
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.
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
dealer: means any person, partnership, corporation, association or other form of business enterprise that is primarily engaged in the retail sale of equipment. See Arizona Laws 44-6701
Dealer agreement: means an oral or written contract or agreement of definite or indefinite duration between a supplier and an equipment dealer that prescribes the rights and obligations of each party with respect to the purchase or sale of equipment. See Arizona Laws 44-6701
Equipment: means machines designed for or adapted and used for agriculture, livestock, grazing, light industrial and utility purposes. See Arizona Laws 44-6701
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
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Felony: A crime carrying a penalty of more than a year in prison.
Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
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
Net cost: means the price the equipment dealer pays to the supplier for equipment, including the freight costs from the supplier's location to the equipment dealer's location, minus all applicable discounts allowed by the supplier. See Arizona Laws 44-6701
Net price: means the price listed for repair parts in the supplier's price list or catalog minus all applicable discounts allowed by the supplier. See Arizona Laws 44-6701
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.
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.
Person: means an individual, corporation, partnership, association, joint stock company or trust, limited liability company, government or governmental subdivision or agency or any other unincorporated organization. See Arizona Laws 44-1801
sell: means a sale or any other disposition of a security or interest in a security for value and includes a contract to make such sale or disposition. See Arizona Laws 44-1801
Supplier: means any person, partnership, corporation, association or other business enterprise that is engaged in the manufacturing, assembly or wholesale distribution of equipment or repair parts, or both, and includes any successor in interest, including a purchaser of assets or stock, or a surviving corporation that results from a merger, liquidation or reorganization of the original supplier. See Arizona Laws 44-6701
United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
Venue: The geographical location in which a case is tried.