Oregon Statutes 646A.152 – Definitions for ORS 646A.150 to 646A.172
As used in ORS § 646A.150 to 646A.172:
Terms Used In Oregon Statutes 646A.152
- 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.
- 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: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(1) ‘Maintenance agreement’ means a contract of limited duration that provides for scheduled maintenance only.
(2)(a) ‘Obligor’ means a person that is contractually obligated to the service contract holder to provide service under a service contract.
(b) ‘Obligor’ does not include a person that has a home services contractor license, as described in ORS § 701.501, and offers or provides services under a home service agreement, as defined in ORS § 731.164.
(3) ‘Person’ means an individual, partnership, corporation, incorporated or unincorporated association, joint stock company, reciprocal, syndicate or any similar entity or combination of entities acting in concert.
(4) ‘Service contract’ is a contract described in ORS § 646A.154.
(5) ‘Service contract holder’ or ‘contract holder’ means a person that purchases or holds a service contract.
(6) ‘Service contract seller’ means a person that markets, sells or offers to sell a service contract.
(7) ‘Warranty’ means a warranty that a person that manufactures, imports or sells property or services makes without charge, that is not negotiated or separated from the sale of the product and is incidental to the sale of the product, and that guarantees indemnity for defective parts, mechanical or electrical breakdown, labor or other remedial measures, such as repair or replacement of the property or repetition of services. [Formerly 646.265; 2013 c.527 § 1]