474

LAWS OF MARYLAND

[Ch. 49

MONEY CHATTEL MORTGAGE, OR OTHER PURCHASE MONEY SECURITY
AGREEMENT; AND

(iii)        A CONTRACT FOR THE BAILMENT OR LEASING

OF GOODS UNDER WHICH THE BAILEE OR LESSEE CONTRACTS TO
PAY AS COMPENSATION A SUM SUBSTANTIALLY EQUAL TO OR IN
EXCESS OF THE VALUE OF THE GOODS.

(3) "INSTALLMENT SALE AGREEMENT" DOES NOT
INCLUDE A BONA FIDE C.O.D. TRANSACTION.

REVISOR'S NOTE: This subsection presently appears as
Art. 83, §152(b).

Reference to a "prospective installment sale
agreement" is added to avoid unnecessary
repetition in this subtitle; see, e.g., Art.
83, §128(c)(1).

To avoid an otherwise, apparently unintended
gap, the definition has also been modified to
include reference to a "purchase money
security agreement."

The only other changes are in style.

(M) MOTOR VEHICLE.

"MOTOR VEHICLE" [[MEANS A VEHICLE WHICH IS
SELF-PROPELLED OR PROPELLED BY ELECTRIC POWER OBTAINED
FROM OVERHEAD TROLLEY WIRES, BUT NOT OPERATED ON RAILS]]
HAS THE MEANING STATED IN ARTICLE 66 1/2. §1-149 OF THE
CODE.

REVISOR'S NOTE: This subsection presently appears as
Art. 83, §132(f).

The only changes are in style.

(N) PERSON.

"PERSON" INCLUDES AN INDIVIDUAL, CORPORATION,
BUSINESS TRUST, ESTATE, TRUST, PARTNERSHIP, ASSOCIATION,
TWO OR MORE PERSONS HAVING A JOINT OR COMMON INTEREST, OR
ANY OTHER LEGAL OR COMMERCIAL ENTITY.

REVISOR'S NOTE: This subsection is new language
setting forth a broad, standardized definition
of the word "person" as used in this article.
It is a synthesis of the U.C.C. definition of
"person" and "organization" contained in
§1-201 (28) and (30) of this article, except
that the reference to "government or
governmental agency" is not included. This