Terms Used In Oregon Statutes > Chapter 645 > General Provisions

• Board of trade: means any person or persons engaged in buying or selling any commodity or receiving the same for sale on consignment, whether such person or persons are characterized as a board of trade, exchange or other form of marketplace. See Oregon Statutes 645.005
• Commodity merchant: means any person, other than a futures association, required to register with the Commodity Futures Trading Commission. See Oregon Statutes 645.005
• 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.
• Director: means the Director of the Department of Consumer and Business Services or an agent or employee authorized to act on the director's behalf. See Oregon Statutes 645.005
• 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.
• Financial institution: means an insured institution or trust company as those terms are defined in ORS § 706. See Oregon Statutes 645.005
• Fraud: Intentional deception resulting in injury to another.
• 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.
• 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.
• Offer: includes every offer to sell, offer to purchase or offer to enter into a commodity contract or commodity option. See Oregon Statutes 645.005
• 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 an individual, a joint venture, a partnership, a cooperative, an association, a joint stock company, a corporation, a trust, an unincorporated organization, a government or a political subdivision of a government. See Oregon Statutes 645.005
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• sell: includes every sale, contract of sale, contract to sell or disposition for value. See Oregon Statutes 645.005
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100