Terms Used In Rhode Island General Laws > Chapter 6A-2.1 > Part 5 > Subpart C - Default by Lessee

• Airport corporation: means the Rhode Island airport corporation. See Rhode Island General Laws 1-2-1
• 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
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the department of environmental management (DEM). See Rhode Island General Laws 2-1-20
• Director: means the executive director of the Rhode Island airport corporation. See Rhode Island General Laws 1-2-1
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§?6A-2. See Rhode Island General Laws 6A-2.1-103
• 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.
• landing field: means any area of land designed and set aside for the approach, landing, and taking off of aircraft and utilized or to be utilized in the interest of the public for those purposes. See Rhode Island General Laws 1-2-3.1
• 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}
• Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Rhode Island General Laws 6A-2.1-103
• Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. See Rhode Island General Laws 6A-2.1-103
• Lease contract: means the total legal obligation that results from the lease agreement as affected by this chapter and any other applicable rules of law. See Rhode Island General Laws 6A-2.1-103
• Lessee: means a person who acquires the right to possession and use of goods under a lease. See Rhode Island General Laws 6A-2.1-103
• Lessor: means a person who transfers the right to possession and use of goods under a lease. See Rhode Island General Laws 6A-2.1-103
• person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Present value: means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain. See Rhode Island General Laws 6A-2.1-103
• 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.
• Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Rhode Island General Laws 6A-2.1-103
• town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
• United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8