Massachusetts General Laws ch. 12A sec. 1 – Definitions
Section 1. As used in this chapter, unless the context requires otherwise, the following words shall have the following meanings:—
Terms Used In Massachusetts General Laws ch. 12A sec. 1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
”Construction”, the process of planning, acquiring, designing, building, altering, repairing, maintaining, servicing, improving, demolishing, equipping or furnishing any structure and appurtenance thereto, including facilities and utilities or other improvements of any kind to any real property and including, but not limited to, highways, airports, tunnels, sewers or dams;
”Procurement”, buying, purchasing, renting, leasing or otherwise acquiring or disposing of supplies, services, or construction;
”Supplies”, all property, including but not limited to equipment, materials, printing, insurance, and real property.
”Services”, the furnishing of labor, time, or effort by a contractor, as defined below.
”Public funds”, state, federal and local funds.
”Contractor”, any person, corporation, partnership, business, union, committee, or other organization, entity or group of individuals.