Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE VII > Chapter 5 - New Home Warranty Act

• Allowed update rule: means a rule of a licensing body allowed by R. See Louisiana Revised Statutes 12:1602
• 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.
• Business entity: means any of the following business organizations: business corporation, limited liability company, partnership, partnership in commendam, and registered limited liability partnership. See Louisiana Revised Statutes 12:1602
• Converting entity: means a domestic business corporation or domestic unincorporated entity as it exists before the effective date of an entity conversion under the Business Corporation Act. See Louisiana Revised Statutes 12:1602
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Domestic business entity: means a business entity that is incorporated, organized, or formed under the laws of this state. See Louisiana Revised Statutes 12:1602
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• License: means any license, permit, or certificate issued by any board, commission, or agency of the state or any of its political subdivisions. See Louisiana Revised Statutes 12:1602
• Licensing body: means the board, commission, or agency of the state or any of its political subdivisions that issues a license. See Louisiana Revised Statutes 12:1602
• 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.
• Personal property: All property that is not real property.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Statute: A law passed by a legislature.
• Surviving entity: means a domestic business corporation or domestic unincorporated entity as it exists immediately after the consummation of an entity conversion under the Business Corporation Act. See Louisiana Revised Statutes 12:1602
• Venue: The geographical location in which a case is tried.