Terms Used In Indiana Code > Title 34 > Article 30 > Chapter 35 - Liability Connected With the Absence of Optional Equipment

• commercial motor vehicle: means a motor vehicle that is used for commercial purposes in interstate or intrastate commerce to transport property or passengers, deliver or transport goods, or provide services. See Indiana Code 34-30-35-2
• 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.
• 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.
• 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.
• optional equipment: means equipment or a component part of a commercial motor vehicle that:

  Indiana Code 34-30-35-3

• 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 corporation, a limited liability company, a partnership, an unincorporated association, or a sole proprietorship. See Indiana Code 34-30-35-4
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.