Terms Used In Oregon Statutes > Chapter 67 > Partnerships > Partners Dissociation When Business Not Wound Up

• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Articles: means articles of incorporation, articles of conversion or articles of merger. See Oregon Statutes 62.015
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means board of directors. See Oregon Statutes 62.015
• Business: includes every trade, occupation, profession and commercial activity. See Oregon Statutes 67.005
• City: includes any incorporated village or town. See Oregon Statutes 174.100
• Contract: A legal written agreement that becomes binding when signed.
• Cooperative: means a cooperative corporation that is subject to the provisions of this chapter. See Oregon Statutes 62.015
• 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.
• Corporation: means a corporation that is not a cooperative. See Oregon Statutes 62.015
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Delivery: means a method of delivery that is used in conventional commercial practice and includes hand delivery, mail delivery, commercial delivery and electronic transmission. See Oregon Statutes 62.015
• Dissociated partner: means a partner with respect to whom an event specified in ORS § 67. See Oregon Statutes 67.005
• Electronic transmission: means a method of communicating information that:

  (a) Does not directly involve a transfer of a physical object that embodies the communication; and

  (b) Enables the recipient to store, retrieve and reproduce the information. See Oregon Statutes 62.015

• 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}
• 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.
• Foreign cooperative: means a cooperative corporation that is organized under laws other than the laws of this state. See Oregon Statutes 62.015
• 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}
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means a person that is qualified and accepted for membership in a cooperative. See Oregon Statutes 62.015
• Membership stock: means any class of stock, continuous ownership of which is required for membership in a cooperative. See Oregon Statutes 62.015
• 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.
• Partnership: means an association of two or more persons to carry on as co-owners a business for profit created under ORS § 67. See Oregon Statutes 67.005
• Person: means an individual, corporation, association, firm, partnership, joint stock company, cooperative or foreign cooperative. See Oregon Statutes 62.015
• 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.
• Shareholder: means a holder of shares of capital stock of a cooperative other than membership stock. See Oregon Statutes 62.015
• Signature: means a manual, facsimile, conformed or electronic signature. See Oregon Statutes 62.015
• Statute: A law passed by a legislature.
• Trustee: A person or institution holding and administering property in trust.
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100