Terms Used In California Codes > Revenue and Taxation Code > Division 1 > Part 3 > Chapter 2

• Assessee: means the person to whom property or a tax is assessed. See California Education Code 5320
• board: means the California Department of Tax and Fee Administration. See California Education Code 5301
• City: includes incorporated city, city and county, municipal corporation, municipality, town, and incorporated town. See California Education Code 5227
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• County: includes city and county. See California Education Code 5228
• 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.
• 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.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• 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}
• 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}
• license: shall include a permit or a certificate issued by a state agency. See California Education Code 1097
• Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
• peace officer: signify any one of the officers mentioned in Chapter 4. See California Education Code 1012
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Quorum: The number of legislators that must be present to do business.
• Trustee: A person or institution holding and administering property in trust.