Missouri Laws > Chapter 411 – Missouri Grain Warehouse Law
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Terms Used In Missouri Laws > Chapter 411 - Missouri Grain Warehouse Law
- 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.
- 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.
- Appraisal: A determination of property value.
- 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.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authorized agent: any person who has the legal authority to act on behalf of, or for the benefit of, another person. See Missouri Laws 411.026
- Certified public accountant: any person licensed as such under chapter 326. See Missouri Laws 411.026
- Claimant: any person or depositor who requests, but does not receive, payment for, or redelivery of, grain stored at a warehouse because the warehouseman fails or refuses to make such payment or redelivery. See Missouri Laws 411.026
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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.
- Credit sales contracts: a conditional grain sales contract wherein payment and/or pricing of the grain is deferred to a later date. See Missouri Laws 411.026
- Current liabilities: obligations reasonably expected to be liquidated within one year and the liquidation of which is expected to require the use of existing resources, properly classified as current assets, or the creation of additional liabilities. See Missouri Laws 411.026
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Deferred pricing agreement: a conditional grain sales transaction wherein no price has been established on the grain, the seller retains the right to price the grain later at a mutually agreed-upon method of price determination. See Missouri Laws 411.026
- Delivery: the voluntary physical transfer of grain from one person to another. See Missouri Laws 411.026
- Department: the Missouri department of agriculture. See Missouri Laws 411.026
- Depositor: any person who deposits grain in a warehouse for storage, handling, shipment, processing, or who is the owner or holder of a warehouse receipt, or who is otherwise lawfully entitled to possession of the grain. See Missouri Laws 411.026
- Designated representative: an employee or official of the department designated by the director to assist in the administration and enforcement of the Missouri grain warehouse law. See Missouri Laws 411.026
- Director: the director of the Missouri department of agriculture or his designated representative. See Missouri Laws 411.026
- Documents of title: include negotiable and nonnegotiable warehouse receipts, scale tickets, and other documents which are issued in the regular course of a warehouseman's business, and which adequately evidence that the possessor is entitled to receive, hold, and dispose of the goods it covers. See Missouri Laws 411.026
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
- 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.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Fraud: Intentional deception resulting in injury to another.
- Generally accepted accounting principles: the conventions, rules and procedures necessary to define accepted accounting practice, which include broad guidelines of general application as well as detailed practices and procedures generally accepted by the accounting profession, and which have substantial authoritative support from the American Institute of Certified Public Accountants. See Missouri Laws 411.026
- Grain: all grains for which standards have been established under the United States Grain Standards Act (Sections 71 to 87 of Title 7, United States Code), and any other agricultural commodities, seeds and vegetable oils prescribed by the director by regulation, except the term "grain" shall not include those commodities deemed not to be grain pursuant to section 411. See Missouri Laws 411.026
- Grain inspector: a warehouseman or a person employed by the warehouseman to inspect, grade or sign warehouse receipts for grain stored or to be stored in a warehouse licensed under this chapter. See Missouri Laws 411.026
- hereafter: means the time after the statute containing it takes effect. See Missouri Laws 1.020
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- insolvency: either, or both of the following:
(a) An excess of liabilities over assets. See Missouri Laws 411.026
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Interested person: any person having a contractual or other financial interest in grain stored in a warehouse licensed or required to be licensed under this chapter. See Missouri Laws 411.026
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Licensed warehouse: a warehouse for which the department has issued a license to operate as a public warehouse in accordance with the provisions of this chapter. See Missouri Laws 411.026
- Licensed warehouseman: a warehouseman who owns or operates a warehouse licensed under the provisions of this chapter. See Missouri Laws 411.026
- Lien: A claim against real or personal property in satisfaction of a debt.
- Month: means a calendar month, and "year" means a calendar year unless otherwise expressed, and is equivalent to the words year of our Lord. See Missouri Laws 1.020
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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: means and includes any individual, firm, partnership, exchange, association, trustee, receiver, corporation, cooperative, society, public body, political subdivision, or any other business or commercial entity or organization of any kind whatsoever, and any member, officer or employee thereof. See Missouri Laws 411.026
- Property: includes real and personal property. See Missouri Laws 1.020
- Public warehouse: a warehouse used for the purpose of storing grain of owners other than the warehouseman, whether grain of the owners be commingled or whether identity of different lots be preserved, or a warehouse used for any purpose for which a license is required under section 411. See Missouri Laws 411.026
- Public warehouseman: any person owning or operating a public warehouse whether that owner or operator resides within the state or not. See Missouri Laws 411.026
- Receipt: a grain warehouse receipt, whether negotiable or nonnegotiable, issued under this chapter. See Missouri Laws 411.026
- 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.
- rules: rules, regulations and standards promulgated pursuant to this chapter by the director. See Missouri Laws 411.026
- 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: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- stored grain: any grain received in a warehouse, including grain bank grain, unless sold in accordance with the provisions of section 411. See Missouri Laws 411.026
- Subpoena: A command to a witness to appear and give testimony.
- Subpoena duces tecum: A command to a witness to produce documents.
- Terminal warehouse: any warehouse where the department makes available official grain inspectors and official weighmasters on a full-time basis. See Missouri Laws 411.026
- Terminal warehouseman: the person owning or operating a terminal warehouse whether such owner or operator resides within the state or not. See Missouri Laws 411.026
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Trustee: A person or institution holding and administering property in trust.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- United States: includes such district and territories. See Missouri Laws 1.020
- Violation: any act contrary to the provisions of this chapter or any failure by a person to act as required by the provisions of this chapter or regulations promulgated hereunder. See Missouri Laws 411.026
- Warehouse: any building, structure or other enclosure in which grain is or may be stored and through which grain is or may be handled or shipped. See Missouri Laws 411.026
- Warehouse auditor: or "warehouse examiner" , or "inspector", any individual appointed under this chapter by the director to assist in the administration of the chapter. See Missouri Laws 411.026
- warehouseman: any person who owns, controls, operates or manages any warehouse whether such owner resides within the state or not. See Missouri Laws 411.026