N.Y. General Business Law 759 – Definitions
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* § 759. Definitions. When used in this article, the following terms shall have the following meanings:
Terms Used In N.Y. General Business Law 759
- Builder: means any person, corporation, partnership or other entity contracting with an owner for the construction of a one- or two-family residential dwelling having less than three stories. See N.Y. General Business Law 759
- 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.
- 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.
1. "Builder" means any person, corporation, partnership or other entity contracting with an owner for the construction of a one- or two-family residential dwelling having less than three stories.
2. "Buyer" means any person or persons who have contracted or who intend to contract with a builder for the construction of a one- or two-family residential dwelling having less than three stories.
* NB Repealed upon provisions set forth in § 3 of chapter 201 of 2014