Terms Used In Louisiana Revised Statutes > Title 10 > Chapter 7 > Part 2 - Warehouse Receipts: Special Provisions

• Bailor: means a person that delivers possession of goods to a bailee. See Louisiana Revised Statutes 10:7-102
• 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.
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Louisiana Revised Statutes 10:7-102
• Governing body: means the board or body in which the bond issuing power of a governmental unit is vested. See Louisiana Revised Statutes 13:5121
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Louisiana Revised Statutes 10:7-102
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• lien: means a privilege on movable property created by operation of law in favor of a creditor. See Louisiana Revised Statutes 10:7-102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• 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.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Statute: A law passed by a legislature.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Warehouse: means a person engaged in the business of storing goods for hire. See Louisiana Revised Statutes 10:7-102