Terms Used In Idaho Code > Title 22 > Chapter 47 - Idaho Oilseed Research and Development Act

• Commercial channels: means the sale of oilseeds for food, feed, seed, or any industrial or chemurgic use, when sold to any commercial buyer, user, dealer, processor, cooperative, or to any person, public or private, who resells any oilseed or any product produced from oilseed. See Idaho Code 22-4703
• Commission: means the Idaho oilseed commission. See Idaho Code 22-4703
• 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.
• Delivery: means placing of oilseed into the primary channels of trade. See Idaho Code 22-4703
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Ex officio: Literally, by virtue of one's office.
• First purchaser: means any person, partnership, association, corporation, cooperative, trust, estate, or any and all other business units, devices and arrangements that buy oilseed in this state in the first instance, or any lienholder, public or private, including the commodity credit corporation, who may possess oilseed from the grower under any lien. See Idaho Code 22-4703
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grower: means any landowner, or tenant of the landowner, personally engaged in growing oilseed, or both the owner and tenant jointly, and includes a person, partnership, association, corporation, cooperative, trust, estate, sharecropper, or any and all other business units, devices and arrangements. See Idaho Code 22-4703
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Month: means a calendar month, unless otherwise expressed. See Idaho Code 73-114
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Oilseed: means seeds produced for use as oil, meal, planting seed, condiment, or other industrial or chemurgic uses. See Idaho Code 22-4703
• 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: includes a corporation as well as a natural person;