Iowa Code 553.3 – Definitions
Current as of: 2023 | Check for updates
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As used in this chapter unless the context otherwise requires:
1. “Commodity” means tangible or intangible property, real, personal, or mixed.
Terms Used In Iowa Code 553.3
- Commodity: means tangible or intangible property, real, personal, or mixed. See Iowa Code 553.3
- 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.
- Enterprise: means a business, commercial or professional entity, including a corporation, partnership, limited partnership, professional corporation, proprietorship, incorporated or unincorporated association, or other form of organization. See Iowa Code 553.3
- Government agency: means the state, its political subdivisions, and any public agency supported in whole or in part by taxation. See Iowa Code 553.3
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- 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 a natural person, estate, trust, enterprise, or government agency. See Iowa Code 553.3
- Sale: means any sale, offer for sale, or attempt to sell or lease any land, to the public in this state, for cash or on credit. See Iowa Code 543C.1
- Service: means any activity which is performed in whole or part for financial gain. See Iowa Code 553.3
- 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 said district and territories. See Iowa Code 4.1
2. “Enterprise” means a business, commercial or professional entity, including a corporation, partnership, limited partnership, professional corporation, proprietorship, incorporated or unincorporated association, or other form of organization.
3. “Government agency” means the state, its political subdivisions, and any public agency supported in whole or in part by taxation.
4. “Person” means a natural person, estate, trust, enterprise, or government agency.
5. “Price” includes the terms and conditions of sale, rental, rate, fee, or any other form of payment for a commodity or service.
6. “Relevant market” means the geographical area of actual or potential competition in a line of commerce, all or any part of which is within this state.
7. “Service” means any activity which is performed in whole or part for financial gain.
8. “Trade or commerce” means any economic activity involving or relating to any commodity, service, or business activity.