Terms Used In Arizona Laws > Title 47 > Chapter 4 - Bank Deposits and Collections

• Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft or like account, other than an account evidenced by a certificate of deposit. See Arizona Laws 47-4104
• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
• Afternoon: means the period of a day between noon and midnight. See Arizona Laws 47-4104
• Arrest: Taking physical custody of a person by lawful authority.
• Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See Arizona Laws 47-4104
• Clearing house: means an association of banks or other payors regularly clearing items. See Arizona Laws 47-4104
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See Arizona Laws 47-4104
• 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.
• Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (section 47-8102) or instructions for uncertificated securities (section 47-8102) or other certificates, statements or the like are to be received by the drawee or other payor before acceptance or payment of the draft. See Arizona Laws 47-4104
• Draft: means a draft as defined in section 47-3104 or an item, other than an instrument, that is an order. See Arizona Laws 47-4104
• Drawee: means a person ordered in a draft to make payment. See Arizona Laws 47-4104
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Arizona Laws 47-4104
• Lien: A claim against real or personal property in satisfaction of a debt.
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• 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 or society, as well as a natural person. See Arizona Laws 1-215
• Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• 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.
• Statute: A law passed by a legislature.
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Writing: includes printing. See Arizona Laws 1-215