Terms Used In Indiana Code > Title 24 > Article 5 > Chapter 16 - Unlawful Motor Vehicle Subleasing

• Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
• buyer: means a person who buys goods from a seller. See Indiana Code 24-5-16-1
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• direct loan agreement: means an agreement between a lender and a purchaser by which the lender has advanced funds under a loan secured by the vehicle that the purchaser has purchased. See Indiana Code 24-5-16-2
• 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}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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 contract: means a lease contract for or in contemplation of a lease for the use of a vehicle, and the purchase of services incidental to the lease, by an individual for a term exceeding four (4) months primarily for personal, family, household, business, commercial, or agricultural use. See Indiana Code 24-5-16-4
• 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.
• person: means an individual, a company, a firm, an association, a partnership, a trust, a corporation, or other legal entity. See Indiana Code 24-5-16-5
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• purchaser: has the meaning set forth in IC 26-1-1-201(33). See Indiana Code 24-5-16-6
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• secured party: has the meaning set forth in Indiana Code 24-5-16-7
• security agreement: has the meaning set forth in Indiana Code 24-5-16-8
• security interest: has the meaning set forth in IC 26-1-1-201(37). See Indiana Code 24-5-16-9
• seller: has the meaning set forth in IC 26-1-2-103(1)(d). See Indiana Code 24-5-16-10
• vehicle: has the meaning set forth in IC 24-4-9-8. See Indiana Code 24-5-16-11