Part 1 General Provisions -101 – -111
Part 2 Formation and Construction of Lease Contract -201 – -221
Part 3 Effect of Lease Contract -301 – -311
Part 4 Performance of Lease Contract: Repudiated, Substituted and Excused -401 – -407
Part 5 Default -501 – -532

Terms Used In Tennessee Code > Title 47 > Chapter 2A

  • 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.
  • Airport: means and includes any one (1) or more airports or heliports and related facilities of an airport authority or municipal airport, including, but not limited to, land and interests in land, facilities for storage of air and space craft, navigation and landing aids, taxiways, pads, aprons, control towers, passenger and cargo terminal buildings, hangars, administration and office buildings, garages, parking lots, and such other structures, facilities and improvements necessary or convenient to the development and maintenance of airports and heliports, and for the promotion and accommodation of air and space travel, commerce and navigation. See Tennessee Code 4-31-603
  • Airport authority: means those airport authorities created pursuant to title 42, chapter 3 and those metropolitan airport authorities created pursuant to title 42, chapter 4. See Tennessee Code 4-31-603
  • 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.
  • 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.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Association: means the Tennessee insurance guaranty association. See Tennessee Code 4-31-803
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney general: means the attorney general and reporter and any assistant thereto by whatever name known, any district attorney general and any assistant thereto by whatever name called, and any officer or full-time employee of the general assembly or any committee thereof established by statute, who is duly licensed to practice law in Tennessee, whose duty it is to provide facilities for drafting bills or to assist individual legislators in drafting bills or who renders legal advice and services to the members of the general assembly or committees thereof. See Tennessee Code 8-34-101
  • Authority: means the Tennessee local development authority, a public agency and instrumentality of the state, created by this chapter, or if such authority shall be abolished, the board, body, commission or agency succeeding to the principal functions thereof or to which the powers and duties granted or imposed upon the authority shall be given by law. See Tennessee Code 4-31-102
  • 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
  • Bond: means any bond authorized and issued pursuant to this chapter. See Tennessee Code 4-31-102
  • Bonds: means all bonds, notes or other obligations issued by the authority under this part. See Tennessee Code 4-31-803
  • claims: means a covered claim as defined in §. See Tennessee Code 4-31-803
  • 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 Tennessee Code -103
  • Commissioner: means the commissioner of mental health and substance abuse services when referenced in provisions relating to mental health facilities or centers and means the commissioner of intellectual and developmental disabilities when referenced in provisions relating to intellectual and developmental disabilities facilities or centers. See Tennessee Code 4-31-703
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Construction: means construction, acquisition, reconstruction, improvement, equipping, furnishing, bettering or extension of a facility, including paying engineering, fiscal, architectural and legal expenses incurred in connection therewith. See Tennessee Code 4-31-703
  • 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 Tennessee Code -103
  • 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.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • County mayor: means and includes "county executive" unless the context clearly indicates otherwise. See Tennessee Code 1-3-105
  • 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.
  • Department: means the department of mental health and substance abuse services when referenced in provisions relating to mental health facilities or centers and means the department of intellectual and developmental disabilities when referenced in provisions relating to developmental disabilities facilities or centers. See Tennessee Code 4-31-703
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • 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.
  • Facility: means "facility" as defined in §. See Tennessee Code 4-31-703
  • Fault: means wrongful act, omission, breach, or default. See Tennessee Code -103
  • Fiduciary: A trustee, executor, or administrator.
  • Finance lease: means a lease with respect to which:

    • (i) the lessor does not select, manufacture, or supply the goods. See Tennessee Code -103

    • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
    • Fraud: Intentional deception resulting in injury to another.
    • 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 (§ 47-2A-309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See Tennessee Code -103
    • Grantee: means a nonprofit, 26 U. See Tennessee Code 4-31-703
    • 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.
    • 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 Tennessee Code -103
    • 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.
    • 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 Tennessee Code -103
    • 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 chapter. See Tennessee Code -103
    • Lease contract: means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. See Tennessee Code -103
    • Leasehold interest: means the interest of the lessor or the lessee under a lease contract. See Tennessee Code -103
    • Lessee: means a person who acquires the right to possession and use of goods under a lease. See Tennessee Code -103
    • Lessor: means a person who transfers the right to possession and use of goods under a lease. See Tennessee Code -103
    • 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 Tennessee Code -103
    • 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 Tennessee Code -103
    • Merchant lessee: means a lessee that is a merchant with respect to goods of the kind subject to the lease. See Tennessee Code -103
    • Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
    • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
    • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
    • Municipal airport: means those county or municipal airports created pursuant to title 42, chapter 5. See Tennessee Code 4-31-603
    • Natural disaster: means any hurricane, tornado, storm, flood, high water, wind-driven water, tidal wave, tsunami, earthquake, volcanic eruption, landslide, mudslide, snowstorm, ice storm, drought, fire, explosion, civil disturbance or other catastrophe that causes or may cause substantial damage or injury to property. See Tennessee Code 4-31-803
    • Note: means any note authorized and issued pursuant to this chapter. See Tennessee Code 4-31-102
    • Oath: includes affirmation. See Tennessee Code 1-3-105
    • 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.
    • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
    • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
    • Plaintiff: The person who files the complaint in a civil lawsuit.
    • Present value: means the amount as of a date certain of one (1) or more sums payable in the future, discounted to the date certain. See Tennessee Code -103
    • Project: means the facility or portion of a facility, the construction of which is being financed or refinanced by a loan pursuant to this part. See Tennessee Code 4-31-703
    • Property: includes both personal and real property. See Tennessee Code 1-3-105
    • Purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods. See Tennessee Code -103
    • real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
    • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
    • 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.
    • 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.
    • signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
    • State: means the state of Tennessee. See Tennessee Code 4-31-102
    • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
    • State: means the state of Tennessee. See Tennessee Code 8-34-101
    • 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 Tennessee Code -103
    • 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 Tennessee Code -103
    • Supply contract: means a contract under which a lessor buys or leases goods to be leased. See Tennessee Code -103
    • 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.
    • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
    • Trustee: A person or institution holding and administering property in trust.
    • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
    • Venue: The geographical location in which a case is tried.
    • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
    • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
    • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105