§ 1-567.30 Preamble and short title
§ 1-567.31 Scope of application
§ 1-567.32 Definitions and rules of interpretation
§ 1-567.33 Receipt of written communications or submissions
§ 1-567.33A Severability
§ 1-567.34 Waiver of right to object
§ 1-567.35 Extent of court intervention
§ 1-567.36 Venue and jurisdiction of courts
§ 1-567.37 Definition and form of arbitration agreement
§ 1-567.38 Arbitration agreement and substantive claim before court
§ 1-567.39 Interim relief and the enforcement of interim measures
§ 1-567.40 Number of arbitrators
§ 1-567.41 Appointment of arbitrators
§ 1-567.43A Disclosure by arbitrator
§ 1-567.44 Failure or impossibility to act
§ 1-567.45 Appointment of substitute arbitrator
§ 1-567.46 Competence of arbitral tribunal to rule on its jurisdiction
§ 1-567.47 Power of arbitral tribunal to order interim measures
§ 1-567.48 Equal treatment of parties; representation by attorney
§ 1-567.49 Determination of rules of procedure
§ 1-567.50 Place of arbitration
§ 1-567.50A Consolidation
§ 1-567.51 Commencement of arbitral proceedings
§ 1-567.52 Language
§ 1-567.53 Statements of claim and defense
§ 1-567.54 Hearings and written proceedings
§ 1-567.55 Default of a party
§ 1-567.56 Expert appointed by arbitral tribunal
§ 1-567.57 Court assistance in obtaining discovery and taking evidence
§ 1-567.58 Rules applicable to substance of dispute
§ 1-567.59 Decision making by panel of arbitrators
§ 1-567.60 Settlement
§ 1-567.61 Form and contents of award
§ 1-567.62 Termination of proceedings
§ 1-567.63 Correction and interpretation of awards; additional awards
§ 1-567.64 Modifying or vacating of awards
§ 1-567.65 Confirmation and enforcement of awards
§ 1-567.66 Applications to court
§ 1-567.67 Appeals
§ 1-567.78 Appointment of conciliators
§ 1-567.79 Representation
§ 1-567.80 Report of conciliators
§ 1-567.81 Confidentiality
§ 1-567.82 Stay of arbitration; resort to other proceedings
§ 1-567.83 Termination of conciliation
§ 1-567.84 Enforceability of decree
§ 1-567.85 Costs
§ 1-567.86 Effect on jurisdiction
§ 1-567.87 Immunity of conciliators and parties
§ 1-567.88 Uniformity of application and construction
§ 1-567.89 Relationship to federal Electronic Signatures in Global and National Commerce Act

Terms Used In North Carolina General Statutes > Chapter 1 > Article 45B - International Commercial Arbitration and Conciliation

  • Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit. See North Carolina General Statutes 25-4-104
  • 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.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Afternoon: means the period of a day between noon and midnight. See North Carolina General Statutes 25-4-104
  • Allegation: something that someone says happened.
  • 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.
  • Amortization: Paying off a loan by regular installments.
  • 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
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • 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.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appraisal: A determination of property value.
  • 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.
  • Authorized officer: means any individual required or permitted, alone or with others, by any provision of law or by the issuing public entity, to execute on behalf of the public entity a certificated registered public obligation or a writing relating to an uncertificated registered public obligation. See North Carolina General Statutes 159E-2
  • Authorized officer: means any individual required or permitted, alone or with others, by any provision of law or by the issuing public entity, to execute on behalf of the public entity a certificated registered public obligation or a writing relating to an uncertificated registered public obligation. See North Carolina General Statutes 20-308
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Bailee: means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See North Carolina General Statutes 25-7-102
  • Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See North Carolina General Statutes 25-4-104
  • 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.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Buyer: means a person who buys or contracts to buy goods. See North Carolina General Statutes 25-2-103
  • Carrier: means a person that issues a bill of lading. See North Carolina General Statutes 25-7-102
  • Certificated registered public obligation: means a registered public obligation which is represented by an instrument. See North Carolina General Statutes 159E-2
  • Certificated registered public obligation: means a registered public obligation which is represented by an instrument. See North Carolina General Statutes 20-308
  • Clearing house: means an association of banks or other payors regularly clearing items. See North Carolina General Statutes 25-4-104
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Code: means the Internal Revenue Code of 1954, as amended. See North Carolina General Statutes 159E-2
  • Code: means the Internal Revenue Code of 1954, as amended. See North Carolina General Statutes 20-308
  • Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See North Carolina General Statutes 25-2A-103
  • Commission: means the Local Government Commission. See North Carolina General Statutes 159E-2
  • Commission: means the Radiation Protection Commission. See North Carolina General Statutes 20-137.6
  • Commissioner: means the Commissioner of Motor Vehicles. See North Carolina General Statutes 20-320
  • 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.
  • Consignee: means a person named in a bill of lading to whom or to whose order the bill promises delivery. See North Carolina General Statutes 25-7-102
  • Consignor: means a person named in a bill of lading as the person from whom the goods have been received for shipment. See North Carolina General Statutes 25-7-102
  • Consumer: means the purchaser, other than for purposes of resale, or lessee from a commercial lender, lessor, or from a manufacturer or dealer, of a motor vehicle, and any other person entitled by the terms of an express warranty to enforce the obligations of that warranty. See North Carolina General Statutes 20-351.1
  • Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed twenty-five thousand dollars ($25,000). See North Carolina General Statutes 25-2A-103
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See North Carolina General Statutes 25-2-106
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See North Carolina General Statutes 25-4-104
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • 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.
  • Delivery order: means a record that contains an order to deliver goods directed to a warehouse, carrier, or other person that in the ordinary course of business issues warehouse receipts or bills of lading. See North Carolina General Statutes 25-7-102
  • Department: means the Department of Health and Human Services. See North Carolina General Statutes 20-137.6
  • Department: The Department of Transportation. See North Carolina General Statutes 20-356
  • Dependent: A person dependent for support upon another.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Docket: A log containing brief entries of court proceedings.
  • Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (N. See North Carolina General Statutes 25-4-104
  • Dower: A widow
  • Draft: means a draft as defined in N. See North Carolina General Statutes 25-4-104
  • Drawee: means a person ordered in a draft to make payment. See North Carolina General Statutes 25-4-104
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Emergency: means any condition existing outside the bounds of nuclear operating sites owned or licensed by a federal agency, and further any condition existing within or outside of the jurisdictional confines of a facility licensed by the Department and arising from the presence of by-product material, source material, special nuclear materials, or other radioactive materials, which is endangering or could reasonably be expected to endanger the health and safety of the public, or to contaminate the environment. See North Carolina General Statutes 20-137.6
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • 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
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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.
  • Ex officio: Literally, by virtue of one's office.
  • Executor: A male person named in a will to carry out the decedent
  • Facsimile seal: means the reproduction by engraving, imprinting, stamping, or other means of the seal of the issuer, official or official body. See North Carolina General Statutes 159E-2
  • Facsimile signature: means the reproduction by engraving, imprinting, stamping, or other means of the manual signature. See North Carolina General Statutes 159E-2
  • Facsimile signature: means the reproduction by engraving, imprinting, stamping, or other means of the manual signature. See North Carolina General Statutes 20-308
  • 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.
  • Fault: means wrongful act, omission, breach, or default. See North Carolina General Statutes 25-2A-103
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • Finance lease: means a lease with respect to which: (i) the lessor does not select, manufacture, or supply the goods; (ii) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease; and (iii) one of the following occurs:

    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).
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Forbearance: A means of handling a delinquent loan. A
  • 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
  • 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
  • Fraud: Intentional deception resulting in injury to another.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (N. See North Carolina General Statutes 25-2A-103
  • Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See North Carolina General Statutes 25-7-102
  • 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
  • Grantor: The person who establishes a trust and places property into it.
  • 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.
  • Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
  • highway vehicle: means a land motor vehicle or trailer other than (i) a farm-type tractor or other vehicle designed for use principally off public roads and while not upon public roads, (ii) a vehicle operated on rails or crawler-treads, or (iii) a vehicle while located for use as a residence or premises. See North Carolina General Statutes 20-279.21
  • House: A dwelling, building, or other structure in excess of 15 feet in width. See North Carolina General Statutes 20-356
  • Housemover: A person licensed under this Article. See North Carolina General Statutes 20-356
  • in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
  • 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
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Installment lease contract: means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent. See North Carolina General Statutes 25-2A-103
  • Instructor: means any person who operates a commercial driver training school or who teaches, conducts classes, gives demonstrations, administers road tests, or supervises practical training of persons learning to operate or drive motor vehicles in connection with operation of a commercial driver training school. See North Carolina General Statutes 20-320
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • 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
  • Intestate: Dying without leaving a will.
  • Issuer: means a public entity which issues an obligation. See North Carolina General Statutes 159E-2
  • Issuer: means a public entity which issues an obligation. See North Carolina General Statutes 20-308
  • Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See North Carolina General Statutes 25-7-102
  • Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See North Carolina General Statutes 25-4-104
  • Joint resolution: A legislative measure which requires the approval of both chambers.
  • 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.
  • Juror: A person who is on the jury.
  • layaway contract: means any contract for the sale of goods in which the seller agrees with the purchaser, in consideration for the purchaser's payment of a deposit, down payment, or similar initial payment, to hold identified goods for future delivery upon the purchaser's payment of a specified additional amount, whether in installments or otherwise. See North Carolina General Statutes 25-2-106
  • Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See North Carolina General Statutes 25-2A-103
  • 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
  • Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this Article. See North Carolina General Statutes 25-2A-103
  • Lease contract: means the total legal obligation that results from the lease agreement as affected by this Article and any other applicable rules of law. See North Carolina General Statutes 25-2A-103
  • Leasehold interest: means the interest of the lessor or the lessee under a lease contract. See North Carolina General Statutes 25-2A-103
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • lessee: means any person, or the agent for any person, to whom a motor vehicle has been leased for a term of at least four months. See North Carolina General Statutes 20-341
  • Lessee: means a person who acquires the right to possession and use of goods under a lease. See North Carolina General Statutes 25-2A-103
  • lessor: means any person, or the agent for any person, who has leased five or more vehicles in the past 12 months. See North Carolina General Statutes 20-341
  • Lessor: means a person who transfers the right to possession and use of goods under a lease. See North Carolina General Statutes 25-2A-103
  • 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.
  • Lien: means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest. See North Carolina General Statutes 25-2A-103
  • Lineal descendant: Direct descendant of the same ancestors.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Lot: means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract. See North Carolina General Statutes 25-2A-103
  • Low-level radioactive waste: means low-level radioactive waste as defined in the Low-Level Radioactive Waste Policy Amendments Act of 1985, Pub. See North Carolina General Statutes 20-137.6
  • Manufacturer: means any person or corporation, resident or nonresident, who manufactures or assembles or imports or distributes new motor vehicles which are sold in the State of North Carolina. See North Carolina General Statutes 20-351.1
  • Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
  • Merchant lessee: means a lessee that is a merchant with respect to goods of the kind subject to the lease. See North Carolina General Statutes 25-2A-103
  • mileage: means the actual distance that a vehicle has traveled. See North Carolina General Statutes 20-341
  • month: shall be construed to mean a calendar month, unless otherwise expressed; and the word "year" a calendar year, unless otherwise expressed; and the word "year" alone shall be equivalent to the expression "year of our Lord. See North Carolina General Statutes 12-3
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Motor vehicle: This term includes mopeds, as that term is defined in N. See North Carolina General Statutes 20-279.1
  • Motor vehicle: includes a motor vehicle as defined in N. See North Carolina General Statutes 20-351.1
  • New motor vehicle: means a motor vehicle for which a certificate of origin, as required by N. See North Carolina General Statutes 20-351.1
  • oath: shall be construed to include "affirmation" in all cases where by law an affirmation may be substituted for an oath, and in like cases the word "sworn" shall be construed to include the word "affirmed. See North Carolina General Statutes 12-3
  • Oath: A promise to tell the truth.
  • Obligation: means an agreement of a public entity issuer to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement or otherwise, and includes a share, participation, or other interest in any such agreement. See North Carolina General Statutes 159E-2
  • Obligation: means an agreement of a public entity issuer to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement or otherwise, and includes a share, participation, or other interest in any such agreement. See North Carolina General Statutes 20-308
  • 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.
  • odometer: means an instrument for measuring and recording the actual distance a motor vehicle travels while in operation; but shall not include any auxiliary odometer designed to be reset by the operator of the motor vehicle for the purpose of recording mileage on trips. See North Carolina General Statutes 20-341
  • Official actions: means the actions by statute, order, ordinance, resolution, contract, or other authorized means by which the issuer provides for issuance of a registered public obligation. See North Carolina General Statutes 159E-2
  • Official or official body: means the officer or board that is empowered under the laws applicable to an issuer to provide for original issuance of an obligation of the issuer, by defining the obligation and its terms, conditions and other incidents, the successor or successors of any such official or official body, and such other person or group of persons as shall be assigned duties of such official or official body with respect to a registered public obligation under applicable law from time to time. See North Carolina General Statutes 159E-2
  • Official or official body: means the officer or board that is empowered under the laws applicable to an issuer to provide for original issuance of an obligation of the issuer, by defining the obligation and its terms, conditions and other incidents, the successor or successors of any such official or official body, and such other person or group of persons as shall be assigned duties of such official or official body with respect to a registered public obligation under applicable law from time to time. See North Carolina General Statutes 20-308
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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, corporation, partnership, firm, association, trust, estate, public or private institution, group, agency, political subdivision of this State, any other state or political subdivision or agency thereof, and any legal successor, representative, agent, or agency of the foregoing, other than the United States Nuclear Regulatory Commission, or any successor thereto, and other than federal government agencies licensed by the United States Nuclear Regulatory Commission, or any successor thereto. See North Carolina General Statutes 20-137.6
  • Person: An individual, corporation, partnership, association, or any other business entity. See North Carolina General Statutes 20-356
  • Personal property: All property that is not real property.
  • personal property: shall include moneys, goods, chattels, choses in action and evidences of debt, including all things capable of ownership, not descendable to heirs at law. See North Carolina General Statutes 12-3
  • persons insured: means the named insured and, while resident of the same household, the spouse of any named insured and relatives of either, while in a motor vehicle or otherwise, and any person who uses with the consent, expressed or implied, of the named insured, the motor vehicle to which the policy applies and a guest in the motor vehicle to which the policy applies or the personal representative of any of the above or any other person or persons in lawful possession of the motor vehicle. See North Carolina General Statutes 20-279.21
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • 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.
  • Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
  • present sale: means a sale which is accomplished by the making of the contract. See North Carolina General Statutes 25-2-106
  • Present value: means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain. See North Carolina General Statutes 25-2A-103
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public entity: means any entity, department, or agency which is empowered under the laws of this State, to issue obligations any interest with respect to which may, under any provision of law, be provided an exemption from the income tax referred to in the Code. See North Carolina General Statutes 159E-2
  • Public entity: means any entity, department, or agency which is empowered under the laws of this State, to issue obligations any interest with respect to which may, under any provision of law, be provided an exemption from the income tax referred to in the Code. See North Carolina General Statutes 20-308
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods. See North Carolina General Statutes 25-2A-103
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Registered public obligation: means an obligation issued by a public entity pursuant to a system of registration. See North Carolina General Statutes 159E-2
  • Registered public obligation: means an obligation issued by a public entity pursuant to a system of registration. See North Carolina General Statutes 20-308
  • 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.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
  • school: means a business enterprise conducted by an individual, association, partnership or corporation which educates or trains persons to operate or drive motor vehicles, administers road tests pursuant to N. See North Carolina General Statutes 20-320
  • seal: shall be construed to include an impression of such official seal, made upon the paper alone, as well as an impression made by means of a wafer or of wax affixed thereto. See North Carolina General Statutes 12-3
  • Secretary: means the Secretary of Health and Human Services. See North Carolina General Statutes 20-137.6
  • Secretary: The Secretary of the Department of Transportation. See North Carolina General Statutes 20-356
  • Seller: means a person who sells or contracts to sell goods. See North Carolina General Statutes 25-2-103
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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.
  • Shipper: means a person that enters into a contract of transportation with a carrier. See North Carolina General Statutes 25-7-102
  • Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See North Carolina General Statutes 25-2A-103
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See North Carolina General Statutes 25-2A-103
  • Supply contract: means a contract under which a lessor buys or leases goods to be leased. See North Carolina General Statutes 25-2A-103
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testator: A male person who leaves a will at death.
  • 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.
  • Tower: means the person who towed the vehicle;

    North Carolina General Statutes 20-279.21

  • 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
  • uninsured motor vehicle: shall include , but not be limited to, an insured motor vehicle where the liability insurer thereof is unable to make payment with respect to the legal liability within the limits specified therein because of insolvency. See North Carolina General Statutes 20-279.21
  • United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
  • Unsafe practices: Any act that is determined by a final agency decision of an enforcing agency or by a court of competent jurisdiction to create a hazard to the motoring public, or any citations under the Occupational Safety and Health Act that have become a final order within the last three years for willful serious violations or for failing to abate serious violations, as defined in N. See North Carolina General Statutes 20-356
  • Usury: Charging an illegally high interest rate on a loan. 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.
  • Verdict: The decision of a petit jury or a judge.
  • Warehouse: means a person engaged in the business of storing goods for hire. See North Carolina General Statutes 25-7-102
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.