Terms Used In New York Laws > Agriculture and Markets > Article 21-B - Dry Milk Powder Control

• Access device: means a card, code, or other means of access to a consumer's account, or any combination thereof, that may be used by the consumer for the purpose of initiating electronic fund transfers. See N.Y. General Business Law 521
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Allegation: something that someone says happened.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Chairman: means the chairman of the dormitory authority. See N.Y. Public Authorities Law 1695
• Commissioner: means the commissioner of agriculture and markets. See N.Y. Agriculture and Markets Law 258-BB
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consumer: means a natural person. See N.Y. General Business Law 521
• Consumer: means a natural person. See N.Y. General Business Law 523
• Contemplation of death: The expectation of death that provides the primary motive to make a gift.
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Contract for services: means a contract between a subscriber and a credit card registration service under which the credit card registration service agrees to provide to a subscriber for a fee any of its services. See N.Y. General Business Law 521
• 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.
• Credit card: means and includes any credit card, credit plate, charge plate, courtesy card, or other identification card or device which may be used to obtain a cash advance or a loan or credit or to purchase or lease property or services on the credit of the issuer or of the holder. See N.Y. General Business Law 521
• Credit card registration service: means any person who provides to subscribers for a fee services including, but not limited to, any of the following: maintenance of a registry of credit cards or access devices owned by a subscriber; notification on behalf of a subscriber to card issuers or financial institutions that any of a subscriber's credit cards or access devices have been lost or stolen; assistance to a subscriber in obtaining new cards or access devices when the subscriber's cards or access devices have been lost or stolen; and notification on behalf of a subscriber to card issuers or financial institutions that a subscriber's address has changed. See N.Y. General Business Law 521
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• 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.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• 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.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• 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.
• 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.
• Person: means any individual, firm, partnership, corporation, association or other legal entity. See N.Y. General Business Law 521
• Person: means an individual, partnership, firm, association or corporation. See N.Y. General Business Law 532
• Person: means any individual, partnership, corporation, association or other organization. See N.Y. General Business Law 570
• Person: means any person, firm, corporation, co-partnership, association, co-operative corporation or unincorporated co-operative association. See N.Y. Agriculture and Markets Law 258-BB
• Personal property: All property that is not real property.
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Provider of travel services: means every person, firm or corporation engaged in the business of furnishing travel, transportation or vacation services. See N.Y. General Business Law 523
• Quorum: The number of legislators that must be present to do business.
• reactivated tube: is a weak, worn-out or defective tube which has been temporarily reactivated by the administration of a charge of high voltage electric current to the elements thereof. See N.Y. General Business Law 532
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recess: A temporary interruption of the legislative business.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• School district: means common school districts, to the extent that they provide transportation of students in grades seven through twelve to a school outside the district, consolidated school districts, central school districts, central high school districts, union free school districts, except special act school districts as defined in section four thousand one of this chapter, and city school districts. See N.Y. Education Law 3621
• second-hand tube: is a tube which has been subjected to consumer or demonstrator use as an entity. See N.Y. General Business Law 532
• Secretary: means the secretary of state. See N.Y. General Business Law 570
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Subscriber: means a consumer who is solicited to purchase or who purchases the services of a credit card registration service. See N.Y. General Business Law 521
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trading stamp: means any stamp or similar device issued in connection with the retail sale of merchandise or service, as a cash discount or for any other marketing purpose, which entitles the rightful holder, on its due presentation for redemption, to receive merchandise, service or cash. See N.Y. General Business Law 570
• Trading stamp company: means any person engaged in distributing trading stamps for retail issuance by others, or in redeeming trading stamps for retailers, in any manner. See N.Y. General Business Law 570
• Travel agent: shall mean any person, firm, corporation, partnership or association, other than a common carrier or employee of a common carrier, that is an officially appointed agent of a common carrier and meets standards no less than those required on January first, nineteen hundred ninety, for authorized agents of the airline reporting corporation, or is a registered member of the Cruise Lines International Association and who operates exclusively as an agent for cruise lines in the sale of cruise travel products or services, and who, as a legal agent of a supplier, sells or offers for sale any travel, transportation or vacation arrangements, or who negotiates for or holds himself or herself out by solicitation, advertisement or otherwise as one who sells, provides, furnishes contracts or arranges for such travel, transportation or vacation services. See N.Y. General Business Law 523
• Travel services: means public transportation, public accommodations in hotels, motels or motor courts, rental of motor vehicles or any other service related to travel. See N.Y. General Business Law 523
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• tube: is a n electron receiving tube or cathode ray tube (commonly known as a picture tube) designed primarily for use in a home type television or radio receiver, phonograph, tape recorder, or any combination thereof, or other home type electronic device or appliance. See N.Y. General Business Law 532
• tube utilizing used components: is a tube which has not been used as an entity but which in the manufacture thereof has utilized one or more used components. See N.Y. General Business Law 532
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.