Terms Used In Tennessee Code > Title 47 > Chapter 8 > Part 2 - Issue and Issuer

• Contract: A legal written agreement that becomes binding when signed.
• 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.
• 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.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• 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.
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Statute: A law passed by a legislature.
• Trustee: A person or institution holding and administering property in trust.
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105