Terms Used In West Virginia Code > Chapter 18B > Article 12 - Research and Development Agreements for State Institutions of Higher Education

• Agreement: means any agreement being entered into between a governing board and a corporation pursuant to section four of this article. See West Virginia Code 18B-12-1
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• boards: means the institutional boards of governors created by §. See West Virginia Code 18B-1-2
• Contract: A legal written agreement that becomes binding when signed.
• Corporate directors: means the board of directors of a corporation. See West Virginia Code 18B-12-1
• 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.
• Corporation: means a nonstock, not-for-profit corporation established under the general corporation laws of the state which meets the description presented by section three of this article. See West Virginia Code 18B-12-1
• Deed: The legal instrument used to transfer title in real property from one person to another.
• 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.
• Laws of the state: includes the Constitution of the State of West Virginia and the Constitution of the United States, and treaties and laws made in pursuance thereof. See West Virginia Code 2-2-10
• 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}
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: include lands, tenements and hereditaments, all rights thereto and interests therein, except chattel interests. See West Virginia Code 2-2-10
• State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
• State institution of higher education: means any university, college, or community and technical college under the jurisdiction of a governing board as that term is defined in this section. See West Virginia Code 18B-1-2