West Virginia Code 47-18-2 – Definitions
Current as of: 2023 | Check for updates
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As used in this article, unless the context otherwise requires:
Terms Used In West Virginia Code 47-18-2
- Commodity: shall mean any kind of real or personal property. See West Virginia Code 47-18-2
- 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.
- 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: shall mean any natural person or persons, or any corporation, partnership, company, trust or association of persons. See West Virginia Code 47-18-2
- Service: shall mean any activity which is performed in whole or in part for the purpose of financial gain, including but not limited to sale, rental, leasing or licensing for use. See West Virginia Code 47-18-2
(a) "Person" shall mean any natural person or persons, or any corporation, partnership, company, trust or association of persons.
(b) "Trade or commerce" shall include all economic activity involving or relating to any commodity or service.
(c) "Commodity" shall mean any kind of real or personal property.
(d) "Service" shall mean any activity which is performed in whole or in part for the purpose of financial gain, including but not limited to sale, rental, leasing or licensing for use.