Terms Used In Alaska Statutes > Title 45 > Chapter 12 > Article 3 - Effect of Lease Contract

• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• buyer in ordinary course of business: means a person who, in good faith and without knowledge that the sale to that person is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, buys in ordinary course from a person in the business of selling goods of that kind, but does not include a pawnbroker. See Alaska Statutes 45.12.103
• 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.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fraud: Intentional deception resulting in injury to another.
• 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
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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.
• 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
• lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. See Alaska Statutes 45.12.103
• lease contract: means the total legal obligation that results from the lease agreement as affected by this chapter and other applicable rules of law. See Alaska Statutes 45.12.103
• leasehold interest: means the interest of the lessor or the lessee under a lease contract. 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
• lessee in ordinary course of business: means a person who, in good faith and without knowledge that the lease to that person is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, leases in ordinary course from a person in the business of selling or leasing goods of that kind, but does not include a pawnbroker. 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
• Lien: A claim against real or personal property in satisfaction of a debt.
• lien: means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest. See Alaska Statutes 45.12.103
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
• purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods. See Alaska Statutes 45.12.103
• state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
• Statute: A law passed by a legislature.
• sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See Alaska Statutes 45.12.103
• writing: includes printing. See Alaska Statutes 01.10.060