Louisiana Revised Statutes > Title 45 > Chapter 6 > Part VIII – Sales and Leases
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Terms Used In Louisiana Revised Statutes > Title 45 > Chapter 6 > Part VIII - Sales and Leases
- 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.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- 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
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10