Minnesota Statutes 629.365 – Definitions
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Subdivision 1.Applicability.
In this section and section 629.366, the terms defined in this section have the meanings given them.
Subd. 2.Merchant.
Terms Used In Minnesota Statutes 629.365
- 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.
- 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: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- Personal property: All property that is not real property.
Terms Used In Minnesota Statutes 629.365
- 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.
- 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: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- Personal property: All property that is not real property.
“Merchant” means a person who owns, possesses, or controls personal property with authority to sell it in the regular course of business at retail or wholesale.
Subd. 3.Person.
“Person” includes an individual, a partnership, corporation, or association.