Terms Used In Delaware Code > Title 8 > Chapter 1 - General Corporation Law

• Abuse: means causing any physical injury to a child through unjustified force as defined in § 468(1)(c) of this title, torture, negligent treatment, sexual abuse, exploitation, maltreatment, mistreatment or any means other than accident. See Delaware Code Title 11 Sec. 1100
• adult person: means a person of the age of 18 years or older. See Delaware Code Title 1 Sec. 302
• Affected court facility: means any court facility for which the Chief Justice has made a determination that emergency sessions shall be conducted outside the county in which it normally operates. See Delaware Code Title 10 Sec. 2003
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means :

  a. See Delaware Code Title 6 Sec. 1301

• Agricultural products: includes all agricultural, horticultural, vegetable, fruit and floricultural products of the soil, livestock and meats, wool, hides, poultry, eggs, dairy products, nuts, mushrooms and honey, but does not include timber products. See Delaware Code Title 3 Sec. 8501
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arrest: Taking physical custody of a person by lawful authority.
• Asset: means property of a debtor, but the term does not include:

  a. See Delaware Code Title 6 Sec. 1301

• Association: means a corporation formed under this chapter. See Delaware Code Title 3 Sec. 8501
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attack: means any action or series of actions causing, or which may cause, substantial damage or injury to persons or property by any means, including through biological, chemical, radiological, or nuclear means or through the use of other weapons, technologies, or processes. See Delaware Code Title 10 Sec. 1803
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• buyer: means a person who buys a motor vehicle from a retail seller and who executed a retail installment contract in connection therewith. See Delaware Code Title 5 Sec. 2901
• Cash sale price: means the price stated in a retail installment contract for which the seller would have sold to the buyer, and the buyer would have bought from the seller, the motor vehicle which is the subject matter of the retail installment contract, if such sale has been a sale for cash instead of a retail installment transaction. See Delaware Code Title 5 Sec. 2901
• Certificate of acceptance: means a certificate of acceptance filed in accordance with § 1407 of this title including, except where the context requires otherwise, any amendments thereto and corrections and restatements thereof. See Delaware Code Title 6 Sec. 1401
• certificate of incorporation: as used in this chapter , unless the context requires otherwise, includes not only the original certificate of incorporation filed to create a corporation but also all other certificates, agreements of merger or consolidation, plans of reorganization, or other instruments, howsoever designated, which are filed pursuant to § 102, §§ 133-136, § 151, §§ 241-243, § 245, §§ 251-258, §§ 263-264, § 267, § 303, §§ 311-313, or any other section of this title, and which have the effect of amending or supplementing in some respect a corporation's certificate of incorporation. See Delaware Code Title 8 Sec. 104
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Chief Justice: means the Chief Justice of the Delaware Supreme Court or, in the absence of the Chief Justice, the justice who is designated in accordance with article IV, § 13 of the Delaware Constitution or, if applicable, by § 1804 of this title to function as Chief Justice. See Delaware Code Title 10 Sec. 2003
• Child: shall mean any individual less than 18 years of age. See Delaware Code Title 11 Sec. 1100
• Child: means a person who has not reached the age of 18 years. See Delaware Code Title 1 Sec. 302
• Claim: means any request or demand, whether under a contract or otherwise, for money or property and whether or not the Government has title to the money or property, that:

  a. See Delaware Code Title 6 Sec. 1202

• Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured. See Delaware Code Title 6 Sec. 1301
• Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
• Commission: means the Delaware Harness Racing Commission. See Delaware Code Title 3 Sec. 10001
• Commissioner: means State Bank Commissioner. See Delaware Code Title 5 Sec. 2901
• Commissioner: means the State Bank Commissioner. See Delaware Code Title 5 Sec. 3401
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• Continuance: Putting off of a hearing ot trial until a later time.
• contract: means an agreement, entered into in this State, pursuant to which the title to, the property in or a lien upon the motor vehicle, which is the subject matter of a retail installment transaction, is retained or taken by a retail seller from a retail buyer as security, in whole or in part, for the buyer's obligation. See Delaware Code Title 5 Sec. 2901
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Court: means the Court of Chancery except where another court is specifically designated. See Delaware Code Title 6 Sec. 2102
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
• Creditor: means a person who has a claim. See Delaware Code Title 6 Sec. 1301
• Debt: means liability on a claim. See Delaware Code Title 6 Sec. 1301
• Debtor: means a person who is liable on a claim. See Delaware Code Title 6 Sec. 1301
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Delinquent child: means a child who commits an act which if committed by an adult would constitute a crime. See Delaware Code Title 11 Sec. 1100
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Devise: To gift property by will.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Docket: A log containing brief entries of court proceedings.
• Documentary material: means the original or any copy of any book, record, report, memorandum, paper, communication, tabulation, chart or other document, and further includes data and other information in a form readable by a data processing machine. See Delaware Code Title 6 Sec. 2102
• dollars: means lawful money of the United States. See Delaware Code Title 1 Sec. 302
• Dower: A widow
• Electronic transmission: means any form of communication not directly involving the physical transmission of paper, including the use of, or participation in, 1 or more electronic networks or databases (including 1 or more distributed electronic networks or databases), that creates a record that may be retained, retrieved and reviewed by a recipient thereof and that may be directly reproduced in paper form by such a recipient through an automated process. See Delaware Code Title 6 Sec. 17-101
• Emergency event: means an impending or existing attack, act of terrorism, disease, accident, or other natural or man-made disaster that does 1 or more of the following:

  a. See Delaware Code Title 10 Sec. 1803

• Emergency sessions: means any court proceeding conducted by an affected court as authorized by this chapter and by order of the Chief Justice of the Delaware Supreme Court. See Delaware Code Title 10 Sec. 2003
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Finance charge: means the amount agreed upon between the buyer and the seller, as limited by this chapter, to be added to the aggregate of the cash sale price, the amount, if any, included for insurance and other benefits and official fees, in determining the time price. See Delaware Code Title 5 Sec. 2901
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Government: includes all departments, boards or commissions of the executive branch of the State, all political subdivisions of the State, the Delaware Department of Transportation and all state and municipal authorities, all organizations created by or pursuant to a statute which declares in substance that such organization performs or has for its purpose the performance of an essential governmental function, and all organizations, entities or persons receiving funds of the State where the act complained of pursuant to this chapter relates to the use of such funds of the State. See Delaware Code Title 6 Sec. 1202
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Grantee: includes every person to whom a freehold estate or interest is conveyed. See Delaware Code Title 1 Sec. 302
• harness horse races: means and includes only any racing of horses in which the horses competing or participating are harnessed to a sulky, carriage or similar vehicle and are not mounted by a jockey. See Delaware Code Title 3 Sec. 10001
• Host county: means the county in which the Chief Justice has ordered the affected court facility to conduct emergency sessions. See Delaware Code Title 10 Sec. 2003
• Improper means: shall include theft, bribery, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy, or espionage through electronic or other means. See Delaware Code Title 6 Sec. 2001
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Insider: includes :

  a. See Delaware Code Title 6 Sec. 1301

• Insured institution: means an insured depository institution (as defined in the Federal Deposit Insurance Act at 12 U. See Delaware Code Title 5 Sec. 3401
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Juror: A person who is on the jury.
• Knowledge: means a person's actual knowledge of a fact, rather than the person's constructive knowledge of the fact. See Delaware Code Title 6 Sec. 17-101
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• 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}
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Legatee: A beneficiary of a decedent
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensee: means a holder of a license issued by the State Bank Commissioner pursuant to this chapter. See Delaware Code Title 5 Sec. 2901
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien: means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien or a statutory lien. See Delaware Code Title 6 Sec. 1301
• Material: includes anything having a natural tendency to influence, or be capable of influencing, the payment or receipt of money or property. See Delaware Code Title 6 Sec. 1202
• Member: means any patron of a workers cooperative that has been accepted for membership in such workers cooperative and whose membership has not been terminated. See Delaware Code Title 6 Sec. 1401
• Minimum finance charge: The minimum, or fixed, finance charge that will be imposed during a billing cycle. A minimum finance charge usually applies only when a finance charge is imposed, that is, when you carry over a balance. ^{Source: Federal Reserve}
• Misappropriation: shall mean :

  a. See Delaware Code Title 6 Sec. 2001

• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• Motor vehicle: means any device propelled or drawn by any power other than muscular power, in, upon, or by which any person or property is, or may be transported or drawn upon a highway. See Delaware Code Title 5 Sec. 2901
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Nonvoting stock: means any stock of a workers cooperative that, as of the time of determination, is not voting stock. See Delaware Code Title 6 Sec. 1401
• Oath: A promise to tell the truth.
• Oath: includes affirmation in all cases where an affirmation may be substituted for an oath, and "sworn" includes affirmed; and the forms shall be varied accordingly. See Delaware Code Title 1 Sec. 302
• Obligation: includes an established duty, whether or not fixed, arising from an express or implied contractual, grantor-grantee, or licensor-licensee relationship, from a fee-based or similar relationship, from statute or regulation, or from the retention of any overpayment. See Delaware Code Title 6 Sec. 1202
• 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.
• Patron: means any person that:

  a. See Delaware Code Title 6 Sec. 1401

• Patron: means a person engaged in agriculture whose products are sold by or supplies purchased through the association, or who has executed a contract with the association to sell all or a part of the patron's agricultural products to or through the association. See Delaware Code Title 3 Sec. 8501
• Patronage: means services (i) performed (directly or indirectly) by a person for a workers cooperative or (ii) received by a person (directly or indirectly) from a workers cooperative. See Delaware Code Title 6 Sec. 1401
• payment network: as used in this chapter means a nonstock member corporation incorporated under Title 8 which has 50 percent or more of its members organized as:

  (1) Banks, thrifts, credit unions or other financial institutions, under the laws of this State, any other state, the laws of a foreign country, the United States of America, a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands; or

  (2) Organizations whose direct or indirect owners or members are financial institutions described in paragraph (1) of this section above, and which has as its principal business the provision of payment network services. See Delaware Code Title 5 Sec. 5001

• Person: means an individual, partnership, corporation, association, and any other group however organized. See Delaware Code Title 5 Sec. 2901
• Person: means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, statutory trust, business trust, estate, trust or any other legal or commercial entity. See Delaware Code Title 6 Sec. 1301
• Person: means a natural person, partnership (whether limited or general), limited liability company, trust (whether common law or business), estate, association, corporation, custodian, nominee or any other entity. See Delaware Code Title 6 Sec. 1401
• Person: shall mean a natural person, corporation, statutory trust, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision or agency, or any other legal or commercial entity. See Delaware Code Title 6 Sec. 2001
• Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
• Person engaged in agriculture: means a person engaged in agriculture, dairying, livestock raising, poultry raising, floriculture, mushroom growing, beekeeping, horticulture and other allied occupations. See Delaware Code Title 3 Sec. 8501
• Personal property: All property that is not real property.
• Personal representative: means , as to a natural person, the executor, administrator, guardian, conservator or other legal representative thereof and, as to a person other than a natural person, the legal representative or successor thereof. See Delaware Code Title 6 Sec. 17-101
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Prior Uniform Commercial Code: means the Uniform Commercial Code as in effect prior to the effective date of this Act. See Delaware Code Title 6 Sec. 11-101
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Prohibited sexual act: shall include :

  a. See Delaware Code Title 11 Sec. 1100

• Property: means anything that may be the subject of ownership. See Delaware Code Title 6 Sec. 1301
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public body: means the state's public agencies, including school districts, and its political subdivisions, including municipal and other authorities. See Delaware Code Title 6 Sec. 2102
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: is synonymous with the phrase "lands, tenements and hereditaments. See Delaware Code Title 1 Sec. 302
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Register in Chancery Office: means the Register in Chancery of the Court of Chancery of the State, which shall be the Clerk's Office of that Court. See Delaware Code Title 10 Sec. 2501
• Regular judge: means the individual holding an office under this chapter before the emergency event. See Delaware Code Title 10 Sec. 1803
• Relative: means an individual related by consanguinity within the 3rd degree as determined by the common law, a spouse, or an individual related to a spouse within the 3rd degree as so determined, and includes an individual in an adoptive relationship within the third degree. See Delaware Code Title 6 Sec. 1301
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Retail installment transaction: means any transaction evidenced by a retail installment contract entered into between a retail buyer and a retail seller wherein the retail buyer buys a motor vehicle from the retail seller at a time price payable in one or more deferred installments. See Delaware Code Title 5 Sec. 2901
• Revised Uniform Commercial Code: means the Uniform Commercial Code as amended by this Act. See Delaware Code Title 6 Sec. 11-101
• Sales finance company: means a person engaged, in whole or in part, in the business of purchasing retail installment contracts from one or more retail sellers. See Delaware Code Title 5 Sec. 2901
• seller: means a person who sells a motor vehicle to a retail buyer under or subject to a retail installment contract. See Delaware Code Title 5 Sec. 2901
• Serious physical injury: shall mean physical injury which creates a risk of death, or which causes disfigurement, impairment of health or loss or impairment of the function of any bodily organ or limb, or which causes the unlawful termination of a pregnancy without the consent of the pregnant female. See Delaware Code Title 11 Sec. 1100
• Significant intellectual or developmental disabilities: means impairment in the intellectual or physical capacity of a child as evidenced by a discernible inability to function within the normal range of performance and behavior with regard to age, development, and environment. See Delaware Code Title 11 Sec. 1100
• Special emergency judge: means an individual designated under this chapter to exercise the powers and discharge the duties of an office held by another individual who is unavailable until a successor is qualified and appointed as may be provided by the Delaware Constitution or other law of this State or until the other individual who is unavailable is able to resume the exercise of the powers and discharge the duties of the office. See Delaware Code Title 10 Sec. 1803
• State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Student: shall mean any person enrolled in a school grades preschool through 12. See Delaware Code Title 11 Sec. 617
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trade secret: shall mean information, including a formula, pattern, compilation, program, device, method, technique or process, that:

  a. See Delaware Code Title 6 Sec. 2001

• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease and creation of a lien or other encumbrance but excludes, without limitation, any disposition of or parting with property or an interest in property described in paragraph (2) of this section. See Delaware Code Title 6 Sec. 1301
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Unavailable: means either that a vacancy in an office under this chapter exists or that the regular judge is absent or unable to exercise the powers and discharge the duties of the office. See Delaware Code Title 10 Sec. 1803
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Visual depiction: includes , but is not limited to:

  a. See Delaware Code Title 11 Sec. 1100

• Voting stock: means any stock of a workers cooperative that, as of the time of determination, is entitled to vote on any matter submitted to stockholders. See Delaware Code Title 6 Sec. 1401
• Workers cooperative: means any corporation that:

  a. See Delaware Code Title 6 Sec. 1401

• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.