Terms Used In Maryland Code > COMMERCIAL LAW > Title 4 > Subtitle 4 - Relationship Between Payor Bank and Its Customer

• Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;
  
  (2) "Afternoon" means the period of a day between noon and midnight;
  
  (3) "Banking day" means the part of a day, excluding Saturday, Sunday, or a legal holiday, on which a bank is open to the public for carrying on substantially all of its banking functions;
  
  (4) "Clearing house" means an association of banks or other payors regularly clearing items;
  
  (5) "Customer" means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank;
  
  (6) "Documentary draft" means a draft to be presented for acceptance or payment if specified documents, certificated securities (§ 8-102) or instructions for uncertificated securities (§ 8-102), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft;
  
  (7) "Draft" means a draft as defined in § 3-104 or an item, other than an instrument, that is an order;
  
  (8) "Drawee" means a person ordered in a draft to make payment;
  
  (9) "Item" means an instrument or a promise or order to pay money handled by a bank for collection or payment. See
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Allegation: something that someone says happened.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arrest: Taking physical custody of a person by lawful authority.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• County: means a county of the State or Baltimore City. See
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dependent: A person dependent for support upon another.
• 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.
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• including: means includes or including by way of illustration and not by way of limitation. See
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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.
• legal holiday: means :
  
  (1) January 1, for New Year's Day;
  
  (2) (i) January 15, for Dr. See
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• minor: means an individual under the age of 18 years. See
• Oath: A promise to tell the truth.
• 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.
• 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: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
• Personal property: All property that is not real property.
• Personal representative: includes an administrator and an executor. See
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• 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.
• state: means :
  
  (1) a state, possession, territory, or commonwealth of the United States; or
  
  (2) the District of Columbia. See
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Trustee: A person or institution holding and administering property in trust.