Terms Used In Oregon Statutes > Chapter 314 > Taxation of Partnerships and S Corporations

• Account debtor: means a person obligated on an account, chattel paper or general intangible. See Oregon Statutes 79.0102
• Adjournment sine die: The end of a legislative session "without day." These adjournments are used to indicate the final adjournment of an annual or the two-year session of legislature.
• 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.
• Agricultural lien: means an interest, other than a security interest or a lien created under ORS § 87. See Oregon Statutes 79.0102
• 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.
• 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.
• 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}
• Chattel paper: means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods. See Oregon Statutes 79.0102
• Collateral: means the property subject to a security interest or agricultural lien. See Oregon Statutes 79.0102
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Continuation statement: means an amendment of a financing statement which:

  (A) Identifies, by its file number, the initial financing statement to which it relates; and

  (B) Indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement. See Oregon Statutes 79.0102

• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dependent: A person dependent for support upon another.
• Devise: To gift property by will.
• 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.
• File number: means the number assigned to an initial financing statement pursuant to ORS § 79. See Oregon Statutes 79.0102
• Filing office: means an office designated in ORS § 79. See Oregon Statutes 79.0102
• Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Oregon Statutes 79.0102
• Fixture filing: means the filing of a financing statement covering goods that are or are to become fixtures and satisfying ORS § 79. See Oregon Statutes 79.0102
• Forbearance: A means of handling a delinquent loan. A
• General intangible: means any personal property, including things in action, other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money and oil, gas or other minerals before extraction. See Oregon Statutes 79.0102
• 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 when a security interest attaches. See Oregon Statutes 79.0102
• Health-care-insurance receivable: means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided. See Oregon Statutes 79.0102
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• 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}
• Letter-of-credit right: means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. See Oregon Statutes 79.0102
• 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: means a consensual interest in real property, including fixtures, which secures payment or performance of an obligation. See Oregon Statutes 79.0102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Nonresident: means any person other than a resident. See Oregon Statutes 497.002
• 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.
• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• 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.
• Payment intangible: means a general intangible under which the account debtor's principal obligation is a monetary obligation. See Oregon Statutes 79.0102
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Promissory note: means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds. See Oregon Statutes 79.0102
• Public-finance transaction: means a secured transaction in connection with which:

  (A) Debt securities are issued;

  (B) All or a portion of the securities issued have an initial stated maturity of at least 20 years; and

  (C) The debtor, obligor, secured party, account debtor or other person obligated on collateral, assignor or assignee of a secured obligation, or assignor or assignee of a security interest is a state or a governmental unit of a state. See Oregon Statutes 79.0102

• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Resident: means a person who has physically resided in this state for not less than six consecutive months immediately prior to the date of making application for a license, tag or permit issued by the State Fish and Wildlife Commission. See Oregon Statutes 497.002
• Service of process: The service of writs or summonses to the appropriate party.
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Oregon Statutes 79.0102
• State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Termination statement: means an amendment of a financing statement which:

  (A) Identifies, by its file number, the initial financing statement to which it relates; and

  (B) Indicates either that it is a termination statement or that the identified financing statement is no longer effective. See Oregon Statutes 79.0102

• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transmitting utility: means an organization primarily engaged in the business of:

  (A) Operating a railroad, subway, street railway or trolley bus;

  (B) Transmitting communications electrically, electromagnetically or by light;

  (C) Transmitting goods by pipeline or sewer; or

  (D) Transmitting or producing and transmitting electricity, steam, gas or water. See Oregon Statutes 79.0102

• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100