Terms Used In Louisiana Revised Statutes > Title 14 > Chapter 1 > Part I > Subpart B - Elements of Crimes

• 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.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Professional law corporation: means a corporation organized pursuant to this Chapter or the laws of any qualified state for the practice of law. See Louisiana Revised Statutes 12:801
• Qualified state: means any state other than Louisiana, or territory of the United States or the District of Columbia, which allows qualified persons authorized to render professional legal services in Louisiana and not in such other state, to own shares in a professional law corporation under its laws. See Louisiana Revised Statutes 12:801
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}