Terms Used In Louisiana Revised Statutes > Title 10 > Chapter 9 > Part 5 > Subpart 2 - Duties and Operation of Filing Office

• 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.
• Compensation: means the payment of money, a thing of value, or any financial benefit. See Louisiana Revised Statutes 51:361
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consideration: means the payment of cash or purchase of goods, services, or intangible property. See Louisiana Revised Statutes 51:361
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• 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}
• Oath: A promise to tell the truth.
• Participant: means a person who contributes money into a pyramid promotional scheme. See Louisiana Revised Statutes 51:361
• Person: means an individual, a corporation, a partnership, or any association, or unincorporated organization. See Louisiana Revised Statutes 51:361
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Promote: means to contrive, direct, establish, or operate a pyramid promotional scheme. See Louisiana Revised Statutes 51:361
• Pyramid promotional scheme: means any plan or operation by which a participant gives consideration for the opportunity to receive compensation which is derived primarily from the person's introduction of other persons into a plan or operation rather than from the sale of goods, services, or intangible property by the participant or other persons introduced into the plan or operation. See Louisiana Revised Statutes 51:361
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Reasonable commercial terms: includes repurchase by the seller, at the participant's request, and upon termination of the business relationship or contract with the seller, of all unencumbered products purchased by the participant from the seller within the previous twelve months which are unused and in commercially resalable condition, provided that repurchase by the seller shall be for not less than ninety percent of the actual amount paid by the participant to the seller of the products, less any consideration received by the participant for purchase of the products which are being returned. See Louisiana Revised Statutes 51:361