Terms Used In Oregon Statutes > Chapter 733 > Valuation > Standard Valuation Law

• 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.
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Candidate: means an individual whose name is or is expected to be printed on the official ballot. See Oregon Statutes 251.005
• City: includes any incorporated village or town. See Oregon Statutes 174.100
• Contract: A legal written agreement that becomes binding when signed.
• County clerk: means the county clerk or the county official in charge of elections. See Oregon Statutes 251.005
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Elector: means an individual qualified to vote under section 2, Article II, Oregon Constitution. See Oregon Statutes 250.005
• Fraud: Intentional deception resulting in injury to another.
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Measure: includes any of the following submitted to the people for their approval or rejection at an election:

  (a) A proposed law. See Oregon Statutes 250.005

• 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: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
• Prospective petition: means the information, except signatures and other identification of petition signers, required to be contained in a completed petition. See Oregon Statutes 250.005
• 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.
• Subpoena: A command to a witness to appear and give testimony.
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.