Terms Used In Maine Revised Statutes > Title 11 > Article 7-A > Part 5 - Warehouse Receipts and Bills of Lading: Negotiation and Transfer

• Adult: means a person who has attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Bailee: means a person that by a warehouse receipt, bill of lading or other document of title acknowledges possession of goods and contracts to deliver them. See Maine Revised Statutes Title 11 Sec. 7-1102
• Carrier: means a person that issues a bill of lading. See Maine Revised Statutes Title 11 Sec. 7-1102
• Commissioner: means the Commissioner of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
• Consignee: means a person named in a bill of lading to which or to whose order the bill promises delivery. See Maine Revised Statutes Title 11 Sec. 7-1102
• Consignor: means a person named in a bill of lading as the person from which the goods have been received for shipment. See Maine Revised Statutes Title 11 Sec. 7-1102
• Contract: A legal written agreement that becomes binding when signed.
• Delivery order: means a record that contains an order to deliver goods directed to a warehouse, carrier or other person that in the ordinary course of business issues warehouse receipts or bills of lading. See Maine Revised Statutes Title 11 Sec. 7-1102
• Department: means the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
• Donor: The person who makes a gift.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Maine Revised Statutes Title 11 Sec. 7-1102
• Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Maine Revised Statutes Title 11 Sec. 7-1102
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Infant: means a person who has not attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
• Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Maine Revised Statutes Title 11 Sec. 7-1102
• 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.
• 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}
• Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
• 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.
• 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.
• Statute: A law passed by a legislature.
• Warehouse: means a person engaged in the business of storing goods for hire. See Maine Revised Statutes Title 11 Sec. 7-1102
• Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72