Terms Used In Montana Code > Title 81 > Chapter 8 > Part 2 - Livestock Markets and Dealers

• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the board of livestock provided for in 2-15-3102. See Montana Code 81-8-213
• 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.
• custodial account: means a separate account established and maintained by a livestock market or livestock video auction engaged in selling livestock on a commission or agency basis. See Montana Code 81-8-213
• Department: means the department of livestock provided for in Title 2, chapter 15, part 31. See Montana Code 81-8-213
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• 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.
• Fraud: Intentional deception resulting in injury to another.
• 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.
• Knowingly: means only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See Montana Code 1-1-204
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Livestock: means cattle, calves, hogs, pigs, horses, mules, sheep, lambs, and goats. See Montana Code 81-8-213
• Livestock dealer: means a person engaged in the business of buying or selling livestock in commerce on the person's own account or as an employee or agent of a vendor or purchaser. See Montana Code 81-8-213
• Livestock market: means :

  (i)a person engaged in the business of buying or selling livestock in commerce on a commission basis;

  (ii)a person engaged in the business of furnishing stockyard services; or

  (iii)a livestock video auction as defined in this section. See Montana Code 81-8-213

• Livestock video auction: means a person who conducts the business of buying or selling livestock on a commission or fee basis through the use of online, video, or other electronic means and who provides the means for handling receivables or proceeds resulting from these types of transactions. See Montana Code 81-8-213
• 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 an individual, firm, association, partnership, or corporation. See Montana Code 81-8-213
• Property: means real and personal property. See Montana Code 1-1-205
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
• Test station sale: means the sale of livestock from a place where livestock is taken to measure rates of gain under uniform feeding conditions when that place is not owned by the owner of the livestock. See Montana Code 81-8-213
• United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
• Writing: includes printing. See Montana Code 1-1-203