Terms Used In Alaska Statutes > Title 45 > Chapter 12 > Article 5 - Default

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• commercial unit: means a unit of goods that by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. 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.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• 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.
• Fiduciary: A trustee, executor, or administrator.
• finance lease: means a lease with respect to which
  (A) the lessor does not select, manufacture, or supply the goods. See Alaska Statutes 45.12.103
• 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
• installment lease contract: means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains the clause "each delivery is a separate lease" or its equivalent. 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
• 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
• 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
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• lot: means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract. See Alaska Statutes 45.12.103
• merchant lessee: means a lessee who is a merchant with respect to goods of the kind subject to the lease. See Alaska Statutes 45.12.103
• 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
• Plaintiff: The person who files the complaint in a civil lawsuit.
• 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
• property: includes real and personal property. See Alaska Statutes 01.10.060
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• 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
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• 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 of limitations: A law that sets the time within which parties must take action to enforce their rights.
• supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Alaska Statutes 45.12.103
• writing: includes printing. See Alaska Statutes 01.10.060