Virginia Code 59.1-68.6: Definitions
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As used in this chapter, unless the text indicates otherwise:
Terms Used In Virginia Code 59.1-68.6
- 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.
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
1. “Person” means any individual, firm, partnership or corporation;
2. “Governmental units” means all state agencies and all political subdivisions or agencies thereof;
3. “Bid” means any submission of a price, whether written or oral, for any goods, services or construction to be provided.
1980, c. 471.