Terms Used In Maine Revised Statutes > Title 11 > Article 7-A > Part 6 - Warehouse Receipts and Bills of Lading: Miscellaneous Provisions

• Adult: means a person who has attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
• Bailee: means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them. See Maine Revised Statutes Title 11 Sec. 7-1102
• Department: means the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Maine Revised Statutes Title 11 Sec. 7-1102
• Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Maine Revised Statutes Title 11 Sec. 7-1102
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
• Minority: when used in reference to age shall mean under the age of 18. See Maine Revised Statutes Title 1 Sec. 72
• Quorum: The number of legislators that must be present to do business.
• Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72