Terms Used In Hawaii Revised Statutes > Chapter 446 - Debt Adjusting

• 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.
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Debt adjuster: means a person who for a profit engages in the business of acting as an intermediary between a debtor and the debtor's creditors for the purpose of settling, compromising, or in any way altering the terms of payment of any debts of the debtor and who:

      [(1)] Receives money, property, or other thing of value from the debtor, or on behalf of the debtor, for distribution among the creditors of the debtor; or

      [(2)] Otherwise arranges for payment to, or distribution among, the creditors of the debtor. See Hawaii Revised Statutes 446-1

• Debtor: means an individual and includes two or more individuals who are jointly and severally or jointly or severally indebted. See Hawaii Revised Statutes 446-1
• 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, partnership, corporation, firm, association, or any other legal entity. See Hawaii Revised Statutes 446-1
• 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.