Terms Used In Louisiana Revised Statutes > Title 51 > Chapter 27 - Motor Vehicle Warranties

• Collateral costs: means sales tax, license fees, and registration fees and any similar governmental charges. See Louisiana Revised Statutes 51:1941
• Consumer: means :

              (a) The purchaser, other than for purposes of resale, of a new motor vehicle normally used for personal, family, or household purposes and subject to a manufacturer's express warranty. See Louisiana Revised Statutes 51:1941

• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dealer: means a person authorized by the manufacturer and actively engaged in the business of buying, selling, or exchanging new automobiles, new personal watercraft, or new all-terrain vehicles at retail and who has an established place of business. See Louisiana Revised Statutes 51:1941
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Manufacturer: means any person, firm, association, corporation, or trust, resident or nonresident, who manufactures or assembles new and unused motor vehicles. See Louisiana Revised Statutes 51:1941
• Motor vehicle: means a passenger motor vehicle or a passenger and commercial motor vehicle as defined in Louisiana Revised Statutes 51:1941
• Nonconformity: means any specific or generic defect or malfunction, or any defect or condition which substantially impairs the use, market value or both of a motor vehicle. See Louisiana Revised Statutes 51:1941
• 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.
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Quorum: The number of legislators that must be present to do business.
• 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.