Minnesota Statutes 325D.50 – Definitions
Subdivision 1.Scope.
Unless a different meaning is clearly indicated by the context, for the purposes of sections 325D.49 to 325D.66, the terms defined in this section have the meanings ascribed to them.
Subd. 2.Commodity.
Terms Used In Minnesota Statutes 325D.50
- 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.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- 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
- 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.
Terms Used In Minnesota Statutes 325D.50
- 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.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- 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
- 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.
“Commodity” means any goods, merchandise, wares, produce, chose in action, land, article of commerce, or any other tangible or intangible property, real, personal, or mixed, for use, consumption, enjoyment, or resale.
Subd. 3.Service.
“Service” means any kind of activity performed in whole or in part for financial gain.
Subd. 4.Contract, combination, or conspiracy.
“Contract, combination, or conspiracy” means any agreement, arrangement, collusion, or understanding. “Contract” includes a purchase, a contract to purchase, a sale, a contract to sell, a lease, a contract to lease, a license, or a contract to license. “Combination” includes a trust, common selling or purchasing agent, pool, or holding company.
Subd. 5.Person.
“Person” means any individual, corporation, firm, partnership, incorporated and unincorporated association, or any other legal or commercial entity.
Subd. 6.Trade or commerce.
“Trade or commerce” means any economic activity of any type whatsoever involving any commodity or service whatsoever.