Massachusetts General Laws ch. 108A sec. 2 – Definitions
Section 2. In this chapter, ”court” includes every court and judge having jurisdiction in the case.
Terms Used In Massachusetts General Laws ch. 108A sec. 2
- 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.
- 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.
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
”Business” includes every trade, occupation, or profession.
”Bankrupt” includes bankrupt under the Federal Bankruptcy Act or insolvent under any state insolvent law.
”Conveyance” includes every assignment, lease, mortgage or encumbrance.
”Foreign registered limited liability partnership”, a registered limited liability partnership or a limited liability partnership formed pursuant to an agreement governed by the laws of another jurisdiction.
”Real property”, includes land or any interest or estate in land.
”Registered limited liability partnership”, a partnership registered under section forty-five and complying with section forty-six.