Terms Used In Alaska Statutes 45.12.504

• 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 personal, family, or household purposes. See Alaska Statutes 45.12.103
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• goods: means all things that are movable at the time of identification to the lease contract, or are fixtures under Alaska Stat. See Alaska Statutes 45.12.103
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• 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 Alaska Statutes 45.12.103
• lessee: means a person who acquires the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
• lessor: means a person who transfers the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
• present value: means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain. See Alaska Statutes 45.12.103
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.