As used in this chapter, the following terms have the following meanings: (a) âBuyerâ has the meaning set forth in subdivision (c) of Section 2981 of the Civil Code. (b) âConditional sale contractâ has the meaning set forth in subdivision (a) of Section 2981 of the Civil Code. Notwithstanding subdivision (k) of Section 2981 of the Civil Code, âconditional sale contractâ includes any contract for the sale or bailment of a motor vehicle between a buyer and a seller primarily for business or commercial purposes. (c) âDirect loan agreementâ means an agreement between a lender and a purchaser whereby the lender has advanced funds pursuant to a loan secured by the motor vehicle which the purchaser has purchased. (d) âLease contractâ means a lease contract between a lessor and lessee as this term and these parties are defined in Section 2985.7 of the Civil Code. Notwithstanding subdivision (d) of Section 2985.7 of the Civil Code, âlease contractâ includes a lease for business or commercial purposes. (e) âMotor vehicleâ means any vehicle required to be registered under the Vehicle Code. (f) âPersonâ means an individual, company, firm, association, partnership, trust, corporation, limited liability company, or other legal entity. (g) âPurchaserâ has the meaning set forth in paragraph (30) of subdivision (b) of Section 1201 of the Commercial Code. (h) âSecurity agreementâ and âsecured partyâ have the meanings set forth, respectively, in paragraphs (74) and (73) of subdivision (a) of Section 9102 of the Commercial Code. âSecurity interestâ has the meaning set forth in paragraph (35) of subdivision (b) of Section 1201 of the Commercial Code. (i) âSellerâ has the meaning set forth in subdivision (b) of Section 2981 of the Civil Code, and includes the present holder of the conditional sale contract.
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