Terms Used In Minnesota Statutes > Chapter 336 > Article 2A > PART 4 - Performance of Leased Contract: Repudiated, Substituted, and Excused

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means a group of two or more persons, who are not all members of an immediate family, acting in concert. See Minnesota Statutes 10A.01
• Board: means the state Campaign Finance and Public Disclosure Board. See Minnesota Statutes 10A.01
• Candidate: means an individual who seeks nomination or election as a state constitutional officer, legislator, or judge. See Minnesota Statutes 10A.01
• Contract: A legal written agreement that becomes binding when signed.
• Contribution: includes a loan or advance of credit to a political committee, political fund, principal campaign committee, local candidate, or party unit, if the loan or advance of credit is: (1) forgiven; or (2) repaid by an individual or an association other than the political committee, political fund, principal campaign committee, local candidate, or party unit to which the loan or advance of credit was made. See Minnesota Statutes 10A.01
• Depository: means a bank, savings association, or credit union organized under federal or state law and transacting business within this state. See Minnesota Statutes 10A.01
• Election: means a primary, special primary, general, or special election. See Minnesota Statutes 10A.01
• Election cycle: means the period from January 1 following a general election for an office to December 31 following the next general election for that office, except that "election cycle" for a special election means the period from the date the special election writ is issued to 15 days after the special election is held. See Minnesota Statutes 10A.01
• expenditure: includes the dollar value of a donation in kind. See Minnesota Statutes 10A.01
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fault: means wrongful act, omission, breach, or default. See Minnesota Statutes 336.2A-103
• Finance lease: means a lease in which

  (1) the lessor does not select, manufacture, or supply the goods,

  (2) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease, and

  (3) either

  (i) the lessee receives a copy of the contract evidencing the lessor's purchase of the goods or a disclaimer statement on or before signing the lease contract, or

  (ii) the lessee's approval of the contract evidencing the lessor's purchase of the goods or a disclaimer statement is a condition to effectiveness of the lease contract. See Minnesota Statutes 336.2A-103

• General treasury money: means money that an association other than a principal campaign committee, party unit, or political committee accumulates through membership dues and fees, donations to the association for its general purposes, and income from the operation of a business. See Minnesota Statutes 10A.01
• Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (section 336. See Minnesota Statutes 336.2A-103
• Independent expenditure: means an expenditure expressly advocating the election or defeat of a clearly identified candidate or local candidate, if the expenditure is made without the express or implied consent, authorization, or cooperation of, and not in concert with or at the request or suggestion of, any candidate or any candidate's principal campaign committee or agent or any local candidate or local candidate's agent. See Minnesota Statutes 10A.01
• 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}
• Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Minnesota Statutes 336.2A-103
• Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. See Minnesota Statutes 336.2A-103
• Lease contract: means the total legal obligation that results from the lease agreement as affected by this article and any other applicable rules of law. See Minnesota Statutes 336.2A-103
• Lessee: means a person who acquires the right to possession and use of goods under a lease. See Minnesota Statutes 336.2A-103
• Lessor: means a person who transfers the right to possession and use of goods under a lease. See Minnesota Statutes 336.2A-103
• 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.
• party unit: means the state committee, the party organization within a house of the legislature, or any other party organization designated by the chair of the political party in an annual certification of party units provided to the board. See Minnesota Statutes 10A.01
• Political committee: means an association whose major purpose is to influence the nomination or election of one or more candidates or local candidates or to promote or defeat a ballot question, other than a principal campaign committee, local candidate, or a political party unit. See Minnesota Statutes 10A.01
• Political fund: means an accumulation of dues or voluntary contributions by an association other than a political committee, principal campaign committee, or party unit, if the accumulation is collected or expended to influence the nomination or election of one or more candidates or local candidates or to promote or defeat a ballot question. See Minnesota Statutes 10A.01
• Political party: means a major political party or a minor political party. See Minnesota Statutes 10A.01
• Population: means the population established by the most recent federal census, by a special census taken by the United States Bureau of the Census, by an estimate made by the Metropolitan Council, or by an estimate made by the state demographer under section 4A. See Minnesota Statutes 10A.01
• Principal: means an individual or association that:

  (1) spends more than $500 in the aggregate in any calendar year to engage a lobbyist, compensate a lobbyist, or authorize the expenditure of money by a lobbyist; or

  (2) is not included in clause (1) and spends a total of at least $50,000 in any calendar year on efforts to influence legislative action, administrative action, or the official action of metropolitan governmental units, as described in section 10A. See Minnesota Statutes 10A.01

• Principal campaign committee: means a principal campaign committee formed under section 10A. See Minnesota Statutes 10A.01
• state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
• Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Minnesota Statutes 336.2A-103