Terms Used In Louisiana Revised Statutes > Title 6 > Chapter 10-B > Part IV - Limitations On Agreements and Practices

• Amount financed: means the amount borrowed under a consumer loan, plus any other amounts for goods or services including without limitation, any negative equity trade-in allowance, insurance, extended warranty, service contract, notary fees, license, title, filing and lien release fees, and other fees and charges that are financed by the extender of credit under the transaction, and included in the principal balance of the consumer's indebtedness subject to loan finance charges. See Louisiana Revised Statutes 6:969.6
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Consumer: means a natural person who enters into a consumer loan or consumer credit sale of a motor vehicle to be used primarily for personal, family, or household purposes. See Louisiana Revised Statutes 6:969.6
• Contract: means the consumer's retail installment contract, note, agreement, or other evidence of indebtedness executed in connection with a motor vehicle credit transaction. See Louisiana Revised Statutes 6:969.6
• creditor: means a seller in a consumer credit sale, or a lender in a consumer loan. See Louisiana Revised Statutes 6:969.6
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Motor vehicle: means any new or used transportation device, including automobiles, motorcycles, trucks, and other vehicles that are operated over the public highways and the streets of this state, but does not include traction engines, boat trailers, road rollers, implements of husbandry, and other agricultural vehicles. See Louisiana Revised Statutes 6:969.6
• Oath: A promise to tell the truth.
• 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.
• Person: means an individual or corporation, partnership, limited liability company, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 6:969.6
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Quorum: The number of legislators that must be present to do business.
• Seller: means the seller of a motor vehicle, including the seller of a motor vehicle under a consumer credit sale, as well as any assignee or transferee of the consumer's contract. See Louisiana Revised Statutes 6:969.6
• Subpoena: A command to a witness to appear and give testimony.