Terms Used In Oregon Statutes > Chapter 174 - Construction of Statutes; General Definitions

• Administrator: means the Administrator of the Personnel Division. See Oregon Statutes 240.015
• Adviser: means a person who, at the request of the issuer, a confirmer or another adviser, notifies or requests another adviser to notify the beneficiary that a letter of credit has been issued, confirmed or amended. See Oregon Statutes 75.1020
• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Applicant: includes a person who requests that an issuer issue a letter of credit on behalf of another if the person making the request undertakes an obligation to reimburse the issuer. See Oregon Statutes 75.1020
• Appointing authority: means an officer or agency having power to make appointments to positions in the state service. See Oregon Statutes 240.015
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bailiff: a court officer who enforces the rules of behavior in courtrooms.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: includes a person to whom drawing rights have been transferred under a transferable letter of credit. See Oregon Statutes 75.1020
• Board: means the Employment Relations Board. See Oregon Statutes 240.015
• Certificate of title: includes another record maintained as an alternative to the certificate of title by the governmental unit that issues certificates of title if a statute permits the security interest in question to be indicated on the record as a condition or result of the security interest's obtaining priority over the rights of the lien creditor with respect to the collateral. See Oregon Statutes 79.0102
• classification: means a group of positions in the state classified service sufficiently alike in duties, authority and responsibilities that the same qualifications may reasonably be required for, and the same schedule of pay can be equitably applied to, all positions in the group. See Oregon Statutes 240.015
• Collateral: means the property subject to a security interest or agricultural lien. See Oregon Statutes 79.0102
• Confirmer: means a nominated person who undertakes, at the request or with the consent of the issuer, to honor a presentation under a letter of credit issued by another. See Oregon Statutes 75.1020
• Consumer goods: means goods that are used or bought for use primarily for personal, family or household purposes. See Oregon Statutes 79.0102
• Consumer transaction: means a transaction in which:

  (i) An individual incurs an obligation primarily for personal, family or household purposes;

  (ii) A security interest secures the obligation; and

  (iii) The collateral is held or acquired primarily for personal, family or household purposes. See Oregon Statutes 79.0102

• Continuance: Putting off of a hearing ot trial until a later time.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• County court: includes board of county commissioners. See Oregon Statutes 174.100
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Delivery: means any method of delivery used in conventional commercial practice, including by hand, mail, commercial delivery and, in accordance with ORS § 60. See Oregon Statutes 60.001
• Dependent: A person dependent for support upon another.
• Division of the service: means a state department or any division or branch thereof, any agency of the state government, or any branch of the state service, all the positions in which are under the same appointing authority. See Oregon Statutes 240.015
• Docket: A log containing brief entries of court proceedings.
• Document: means a draft or other demand, document of title, investment security, certificate, invoice or other record, statement or representation of fact, law, right or opinion:

  (A) That is presented in a written or other medium permitted by the letter of credit or, unless prohibited by the letter of credit, by the standard practice referred to in ORS § 75. See Oregon Statutes 75.1020

• domestic corporation: means a corporation for profit that is incorporated under or subject to the provisions of this chapter and that is not a foreign corporation. See Oregon Statutes 60.001
• Electronic notice revocation: means a notice in which a person states that the person will not accept delivery of certain communications by means of electronic transmission. See Oregon Statutes 60.001
• Electronic transmission: means a form or process of communication that does not directly involve physically transferring paper or another tangible medium and that enables a recipient to retain, retrieve and reproduce information by means of an automated process that is used in conventional commercial practice, except as provided in ORS § 60. See Oregon Statutes 60.001
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• executive department: means all statewide elected officers other than judges, and all boards, commissions, departments, divisions and other entities, without regard to the designation given to those entities, that are within the executive branch of government as described in Article III, section 1, of the Oregon Constitution, and that are not:

  (a) In the judicial department or the legislative department;

  (b) Local governments; or

  (c) Special government bodies. See Oregon Statutes 174.112

• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Oregon Statutes 79.0102
• 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.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Foreign corporation: means a corporation for profit that is incorporated under laws other than the laws of the state. See Oregon Statutes 60.001
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Gender identity: means an individual's gender-related identity, appearance, expression or behavior, regardless of whether the identity, appearance, expression or behavior differs from that associated with the gender assigned to the individual at birth. See Oregon Statutes 174.100
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Goods: means all things that are movable when a security interest attaches. See Oregon Statutes 79.0102
• Grantor: The person who establishes a trust and places property into it.
• Individual: means a natural person or the estate of an incompetent individual or a deceased individual. See Oregon Statutes 60.001
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Issuer: means a bank or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family or household purposes. See Oregon Statutes 75.1020
• Jurisprudence: The study of law and the structure of the legal system.
• 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}
• legislative department: means the Legislative Assembly, the committees of the Legislative Assembly and all administrative divisions of the Legislative Assembly and its committees, whether denominated as boards, commissions or departments or by any other designation. See Oregon Statutes 174.114
• Letter of credit: means a definite undertaking that satisfies the requirements of ORS § 75. See Oregon Statutes 75.1020
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• local government: means all cities, counties and local service districts located in this state, and all administrative subdivisions of those cities, counties and local service districts. See Oregon Statutes 174.116
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Nominated person: means a person whom the issuer:

  (A) Designates or authorizes to pay, accept, negotiate or otherwise give value under a letter of credit; and

  (B) Undertakes by agreement or custom and practice to reimburse. See Oregon Statutes 75.1020

• Oath: A promise to tell the truth.
• Obligor: means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral:

  (i) Owes payment or other performance of the obligation;

  (ii) Has provided property other than the collateral to secure payment or other performance of the obligation; or

  (iii) Is otherwise accountable in whole or in part for payment or other performance of the obligation. See Oregon Statutes 79.0102

• person with a disability: means any person who:

  (a) Has a physical or mental impairment which substantially limits one or more major life activities;

  (b) Has a record of such an impairment; or

  (c) Is regarded as having such an impairment. See Oregon Statutes 174.107

• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Presentation: means delivery of a document to an issuer or nominated person for honor or giving of value under a letter of credit. See Oregon Statutes 75.1020
• Presenter: means a person making a presentation as or on behalf of a beneficiary or nominated person. See Oregon Statutes 75.1020
• Principal office: means the physical street address of an office, in or out of this state, where the principal executive offices of a domestic or foreign corporation are located and designated in the annual report or in the application for authority to transact business in this state. See Oregon Statutes 60.001
• Proposal: means a record authenticated by a secured party which includes the terms on which the secured party is willing to accept collateral in full or partial satisfaction of the obligation it secures pursuant to ORS § 79. See Oregon Statutes 79.0102
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• public notice: means any legal publication which requires an affidavit of publication as required in ORS § 193. See Oregon Statutes 174.104
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Oregon Statutes 75.1020
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Regular employee: means an employee who has been appointed to a position in the classified service in accordance with this chapter after completing the trial service period. See Oregon Statutes 240.015
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• Sexual orientation: means an individual's actual or perceived heterosexuality, homosexuality or bisexuality. See Oregon Statutes 174.100
• Shareholder: means a person in whose name a share is registered in the records of a corporation or the beneficial owner of a share to the extent of the rights granted by a nominee certificate on file with a corporation. See Oregon Statutes 60.001
• special government body: means any of the following:

  (a) A public corporation created under a statute of this state and specifically designated as a public corporation. See Oregon Statutes 174.117

• State service: means all offices and positions in the employ of the state other than those of commissioned, warrant and enlisted personnel in the military and naval services thereof. See Oregon Statutes 240.015
• State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
• Subpoena: A command to a witness to appear and give testimony.
• Successor of a beneficiary: means a person who succeeds to substantially all of the rights of a beneficiary by operation of law, including a corporation with or into which the beneficiary has been merged or consolidated, an administrator, executor, personal representative, trustee in bankruptcy, debtor in possession, liquidator and receiver. See Oregon Statutes 75.1020
• Testify: Answer questions in court.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• 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: means the federal government or a district, authority, bureau, commission, department or any other agency of the United States. See Oregon Statutes 60.001
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Violate: includes failure to comply. See Oregon Statutes 174.100
• wife: means spouses or a spouse in a marriage. See Oregon Statutes 174.100