Terms Used In Louisiana Revised Statutes > Title 51 > Chapter 2 > Part VIII - Motor Vehicles

• 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.
• Dealer: means any person who is engaged in, or who intends to engage in the business of selling motor vehicles at retail in this state. See Louisiana Revised Statutes 51:661
• 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.
• Finance company or finance agency: means any person engaged in the business of financing the sale of motor vehicles, or engaged in the business of purchasing or acquiring promissory notes, either secured by vendor's privilege or chattel mortgage, arising from the sale of motor vehicles in this state. See Louisiana Revised Statutes 51:661
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Manufacturer: means any person who is engaged, either directly or indirectly, in the manufacture of motor vehicles. See Louisiana Revised Statutes 51:661
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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 body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• purchase: include exchange, barter, gift, and offer to contract to sell or buy. See Louisiana Revised Statutes 51:661
• Subpoena: A command to a witness to appear and give testimony.
• Wholesale distributor: means any person engaged, directly or indirectly, in the sale or distribution of motor vehicles to agents or dealers. See Louisiana Revised Statutes 51:661