Terms Used In Tennessee Code > Title 49 > Chapter 3 > Part 11 - Educational Institutions Law of 1943

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Board: means both the board of trustees of the University of Tennessee and the state board of education, or either of them. See Tennessee Code 49-3-1102
• Bonds: means any bonds of the board issued pursuant to this part. See Tennessee Code 49-3-1102
• 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.
• Dependent: A person dependent for support upon another.
• Federal agency: means the United States, the president of the United States, the administrator of general services or such other agency or agencies as may be designated or created to make loans or grants or both pursuant to the recovery act or any further acts. See Tennessee Code 49-3-1102
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Institution: means any one of the East Tennessee State University, Middle Tennessee State University, the University of Memphis, the Tennessee Technological University, the University of Tennessee and the University of Tennessee, Martin branch. See Tennessee Code 49-3-1102
• 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.
• Lands: includes lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
• 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.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Personal property: All property that is not real property.
• Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
• Project: means and includes buildings, structures, improvements and equipment of every kind, nature and description that may be required by or convenient for the purpose of an institution, including, without limiting the generality of the foregoing, administration, dining, exhibition, lecture, recreational and teaching halls, or parts of or additions to them. See Tennessee Code 49-3-1102
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Recovery act: means all acts or resolutions of the congress of the United States to encourage public works, to provide relief, work relief, or to increase employment by providing for useful projects and providing for the making of loans or grants or both. See Tennessee Code 49-3-1102
• State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• To acquire: includes to purchase, erect, build, construct, reconstruct, repair, replace, extend, better, equip, develop or improve a project. See Tennessee Code 49-3-1102
• 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 the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105