Terms Used In Indiana Code > Title 24 > Article 4 > Chapter 7 - Contracts With Wholesale Sales Representatives

• Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
• commission: means compensation that accrues to a sales representative, for payment by a principal, at a rate expressed as a percentage of the dollar amount of orders taken or sales made by the sales representative. See Indiana Code 24-4-7-1
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• 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, corporation, limited liability company, partnership, unincorporated association, estate, or trust. See Indiana Code 24-4-7-2
• principal: means a person who:

  Indiana Code 24-4-7-3

• sales representative: means a person who:

  Indiana Code 24-4-7-4

• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.