Idaho Code > Title 28 > Chapter 12 > Part 5 – Default
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Terms Used In Idaho Code > Title 28 > Chapter 12 > Part 5 - Default
- Action: means a judicial proceeding or arbitration in which a payment in money may be awarded or enforced with respect to a foreign-money claim. See Idaho Code 10-1501
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Arrest: Taking physical custody of a person by lawful authority.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bank-offered spot rate: means the spot rate of exchange at which a bank will sell foreign money at a spot rate. See Idaho Code 10-1501
- 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.
- Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See Idaho Code 28-12-103
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed twenty-five thousand dollars ($25,000). See Idaho Code 28-12-103
- Contract: A legal written agreement that becomes binding when signed.
- Conversion date: means the banking day next preceding the date on which money, in accordance with this chapter, is:
Idaho Code 10-1501Corporation: 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. Counterclaim: A claim that a defendant makes against a plaintiff. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Dismissal: The dropping of a case by the judge without further consideration or hearing. Source: Distribution proceeding: means a judicial or nonjudicial proceeding for the distribution of a fund in which one (1) or more foreign-money claims is asserted and includes an accounting, an assignment for the benefit of creditors, a foreclosure, the liquidation or rehabilitation of a corporation or other entity, and the distribution of an estate, trust or other fund. See Idaho Code 10-1501 Docket: A log containing brief entries of court proceedings. 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 Fiduciary: A trustee, executor, or administrator. Finance lease: means a lease with respect to which:
Idaho Code 28-12-103Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Foreign money: means money other than money of the United States of America. See Idaho Code 10-1501 Foreign-money claim: means a claim upon an obligation to pay, or a claim for recovery of a loss, expressed in or measured by a foreign money. See Idaho Code 10-1501 Fraud: Intentional deception resulting in injury to another. Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (section 28-12-309, Idaho Code), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See Idaho Code 28-12-103 Installment lease contract: means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent. See Idaho Code 28-12-103 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: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Idaho Code 28-12-103 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 Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. See Idaho Code 28-12-103 Lease contract: means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. See Idaho Code 28-12-103 Lessee: means a person who acquires the right to possession and use of goods under a lease. See Idaho Code 28-12-103 Lessor: means a person who transfers the right to possession and use of goods under a lease. See Idaho Code 28-12-103 Lien: A claim against real or personal property in satisfaction of a debt. Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Lot: means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract. See Idaho Code 28-12-103 Merchant lessee: means a lessee that is a merchant with respect to goods of the kind subject to the lease. See Idaho Code 28-12-103 Money: means a medium of exchange for the payment of obligations or a store of value authorized or adopted by a government or by inter-governmental agreement. See Idaho Code 10-1501 Money of the claim: means the money determined as proper pursuant to section SECTsp1/>10-1504. See Idaho Code 10-1501 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: includes a corporation as well as a natural person;
Idaho Code 73-114Person: means an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, joint venture, partnership, association, two (2) or more persons having a joint or common interest, or any other legal or commercial entity. See Idaho Code 10-1501 Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114 Personal property: All property that is not real property. Plaintiff: The person who files the complaint in a civil lawsuit. Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer. Present value: means the amount as of a date certain of one (1) or more sums payable in the future, discounted to the date certain. See Idaho Code 28-12-103 Property: includes both real and personal property. See Idaho Code 73-114 Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift or any other voluntary transaction creating an interest in goods. See Idaho Code 28-12-103 Rate of exchange: means the rate at which money of one (1) country may be converted into money of another country in a free financial market convenient to or reasonably usable by a person obligated to pay or to state a rate of conversion. See Idaho Code 10-1501 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation. Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. seal: includes an impression of such seal upon the paper, alone, as well as upon wax or a wafer affixed thereto; or, alternatively, the seal may be the mark of a rubber stamp providing substantially the same information as the impression. See Idaho Code 73-111 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Spot rate: means the rate of exchange at which foreign money is sold by a bank or other dealer in foreign exchange for immediate or next day availability or for settlement by immediate payment in cash or equivalent, by charge to an account, or by an agreed delayed settlement not exceeding two (2) days. See Idaho Code 10-1501 State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114 State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a territory or insular possession subject to the jurisdiction of the United States. See Idaho Code 10-1501 Statute: A law passed by a legislature. Statute of limitations: A law that sets the time within which parties must take action to enforce their rights. Summons: Another word for subpoena used by the criminal justice system. Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Idaho Code 28-12-103 Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition. Writ: signifies an order or precept in writing, issued in the name of the people, or of a court or judicial officer, and the word "process" a writ or summons issued in the course of judicial proceedings. See Idaho Code 73-114 Writ: A formal written command, issued from the court, requiring the performance of a specific act.