Terms Used In New York Laws > Business Corporation > Article 10
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Commissioner: shall mean the commissioner of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
- Counterclaim: A claim that a defendant makes against a plaintiff.
- Department: shall mean the department of consumer and worker protection. See N.Y. New York City Administrative Code 20-102
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Person: shall mean a natural person or an organization. See N.Y. New York City Administrative Code 20-102
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.