Terms Used In New York Laws > Uniform Commercial Code > Article 1 > Part 2 - General Definitions and Principles of Interpretation

• applicable standard rate: shall mean a combination of (a) the standard wage rate; and (b) the standard benefits supplemental rate. See N.Y. Labor Law 696-A
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• 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.
• child care provider: shall mean :
  
  1. See N.Y. Labor Law 695-B
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Covered airport location: means John F. See N.Y. Labor Law 696-A
• Covered airport worker: means any person employed to perform work at a covered airport location provided at least one-half of the employee's time during any workweek is performed at a covered airport location and who works in one of the following covered categories:
  
  (i) Cleaning and related services, which shall mean:
  
  (1) building cleaning, including warehouse, kitchen, and terminal cleaning, including common areas, gateways, gates, lounges, clubs, concession areas, terminal entryways from ramp and where planes park at the gate, and other nearby facilities used for the preparation, packaging, and storage of inflight meals and supplies; and
  
  (2) aircraft and cabin cleaning, including lavatory and water disposal and replenishment, lift truck driving and helping, dispatching, cleaning crew driving, and sorting and packing of inflight materials, such as blankets, pillows, and magazines;
  
  (ii) Security related services, including catering security, escorting, escort security, passenger aircraft security, fire guarding, terminal security, baggage security, traffic security, cargo screening, including guarding, warehouse security, concessions and airport lounge security, security dispatch, and security at nearby facilities used for the preparation, packaging, and storage of inflight meals; or
  
  (iii) In terminal and passenger handling services, including baggage handling, sky cap services, wheelchair attending, wheelchair dispatching, customer and passenger services, line queue, identification checking, porter services for baggage, and passenger and employee shuttle driving. See N.Y. Labor Law 696-A
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Employer: means any person, corporation, limited liability company, or association employing any individual in an occupation, industry, trade, business or service. See N.Y. Labor Law 696-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.
• Executor: A male person named in a will to carry out the decedent
• 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.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• Personal property: All property that is not real property.
• standard benefits supplement rate: means an hourly supplement of four dollars and fifty-four cents furnished to an employee by providing at least four dollars and fifty-four cents per hour toward the cost of minimum essential coverage under an eligible employer-sponsored plan as defined in treasury regulation section 1. See N.Y. Labor Law 696-A
• standard wage rate: means the greater of:
  
  (a) any minimum wage rate that would be otherwise applicable to covered airport workers established by article nineteen of this chapter; or
  
  (b) any otherwise applicable minimum wage rate established through a policy of the Port Authority of New York and New Jersey. See N.Y. Labor Law 696-A
• Statute: A law passed by a legislature.
• Successor airport employer: means any person who furnishes cleaning and related services, security related services, in terminal and passenger handling services, airline catering, or airport lounge services at a covered airport location that are substantially similar to those that were provided by covered airport workers previously employed by another employer at such covered airport location. See N.Y. Labor Law 696-A
• Trustee: A person or institution holding and administering property in trust.