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For the purposes of this chapter the following terms shall have the meaning stated below:\n(a) Financial asset. — Shall mean an account, an instrument, financial paper or any contract that gives a natural or juridical person the right to receive payments in cash or through an instrument from another natural or juridical person.\n(b) Instrument. — Shall mean an 'instrument' as said term is defined in the Commercial Transactions Act, §§ 401 et seq. of Title 19.\n(c) Account. — Shall mean an 'account' as said term is defined in the Commercial Transactions Act, §§ 401 et seq. of Title 19.\n(d) Valid contract. — Shall mean a written contract that meets the applicable requirements for its juridical validity.\n(e) Purchase and sale. — Shall mean a juridical business that meets the requirements imposed by the Puerto Rico Civil Code of 1930, as amended, in §§ 3741—3961 of Title 31 relative to a 'purchase and sale' or with the requirements imposed by the Commercial Code in the case of a 'purchase for resale', as said term is defined in the Commercial Code.\n(f) Commercial Code. — Shall mean the Puerto Rico Commercial Code of 1932, as amended, §§ 1001 et seq. of this title.\n(g) Assignment.

se for resale', as said term is defined in the Commercial Code.\n(f) Commercial Code. — Shall mean the Puerto Rico Commercial Code of 1932, as amended, §§ 1001 et seq. of this title.\n(g) Assignment. — Shall mean a juridical business that meets the requirements imposed by §§ 3942—3961 of Title 31, related to the 'assignment' or 'transfer of credits'.\n(h) Documentation. — Shall mean the contract through which the transfer of financial assets is conducted as well as other documents related to such a transaction.\n(i) Commercial Transactions Act. — Shall mean §§ 401 et seq. of Title 19, known as the 'Commercial Transactions Act'.\n(j) Financial paper. — [Shall mean] as said term is defined in the Financial Transactions Act, §§ 401 et seq. of Title 19.\nHistory —Feb. 23, 2007, No. 13, § 2.