Terms Used In Tennessee Code > Title 4 > Chapter 26 - Business Enterprise Office

• Agriculture: means :
  (i) The land, buildings and machinery used in the commercial production of farm products and nursery stock. See Tennessee Code 1-3-105
• 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
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bid bond: means a bond conditioned upon the entering into a contract by a bidder, if the bidder receives the award thereof, and furnishing the prescribed payment bond and performance bond. See Tennessee Code 4-26-102
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Commissioner: means the commissioner of economic and community development. See Tennessee Code 4-26-102
• 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.
• County mayor: means and includes "county executive" unless the context clearly indicates otherwise. See Tennessee Code 1-3-105
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the department of economic and community development. See Tennessee Code 4-26-102
• Director: means the director of the office of business enterprise. See Tennessee Code 4-26-102
• Disability: means a physical impairment that, in the written opinion of a person's licensed physician, substantially limits one (1) or more of the major life activities of such person and is expected to continue to exist for more than five (5) years. See Tennessee Code 4-26-102
• Disadvantaged business: means a business that is solely owned, or at least fifty-one percent (51%) of the outstanding stock of which is owned, by a person who is either:
  (A) By reason of social background unable to obtain technical, business or financial assistance of a quality or quantity similar to that available to the average business. See Tennessee Code 4-26-102
• 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.
• 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.
• Governing body: means the board or body in which the general legislative powers of a municipality are vested. See Tennessee Code 7-33-301
• Improvement: means the construction, installation or substantial reconstruction of sanitary sewers. See Tennessee Code 7-33-301
• Improvement assessment: means an assessment made each year against benefited property to pay the costs of an improvement, in the proportion that the assessed value of each parcel or lot of benefited property bears to the total assessed value of all benefited property according to the latest assessments of such property for purposes of municipal property taxation or as provided by this part. See Tennessee Code 7-33-301
• 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
• Lien: A claim against real or personal property in satisfaction of a debt.
• major life activities: means caring for oneself and performing manual tasks, which includes writing, walking, seeing, hearing, speaking, and breathing. See Tennessee Code 4-26-102
• Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipality: means incorporated city or town. See Tennessee Code 7-33-301
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Obligee: means :
  (A) In the case of a bid bond, the person requesting bids for the performance of a contract. See Tennessee Code 4-26-102
• Payment bond: means a bond conditioned upon the payment by the principal of money to persons under contract with the principal. See Tennessee Code 4-26-102
• Performance bond: means a bond conditioned upon the completion by the principal of a contract in accordance with its terms. See Tennessee Code 4-26-102
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Prime contractor: means the person with whom the obligee has contracted to perform the contract. See Tennessee Code 4-26-102
• Principal: means :
  (i) In the case of a bid bond, a person bidding for the award of a contract. See Tennessee Code 4-26-102
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• 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).
• sex: means a person's immutable biological sex as determined by anatomy and genetics existing at the time of birth and evidence of a person's biological sex. See Tennessee Code 1-3-105
• 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
• Subcontractor: means a person who has contracted with a prime contractor or with another subcontractor to perform a contract. See Tennessee Code 4-26-102
• Surety: means the person who:
  (A) Under the terms of a bid bond, undertakes to pay a sum of money to the obligee in the event the principal breaches the conditions of the bond. See Tennessee Code 4-26-102
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105