Terms Used In California Codes > Commercial Code > Division 1 > Chapter 1 - Short Title, Construction, Application and Subject Matter of the Code

• agreement: means the total legal obligation that results from the parties' agreement as determined by this code and as supplemented by any other applicable laws. See California Commercial Code 1201
• Department: means the Department of Food and Agriculture. See California Food and Agricultural Code 32
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See California Commercial Code 1201
• 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.
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See California Commercial Code 1201
• physical therapy: as used in this chapter , and a license issued pursuant to this chapter does not authorize the diagnosis of disease. See California Business and Professions Code 2620
• 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}