Terms Used In Nevada Revised Statutes > Chapter 482 - Motor Vehicles and Trailers: Licensing, Registration, Sales and Leases

• Abandoned residential property: means residential property which has been:

  (a) Acquired by the governing body pursuant to the provisions of Nevada Revised Statutes 279B.020

• Administrator: means the Administrator of the Office. See Nevada Revised Statutes 383.011
• 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.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Affordable housing: has the meaning ascribed to it in Nevada Revised Statutes 279A.020
• Affordable housing: has the meaning ascribed to it in Nevada Revised Statutes 279B.020
• Agency: means an agency of a county or city established or designated to administer a program. See Nevada Revised Statutes 279A.020
• Agency: means an agency of a county or city established or designated to administer a program. See Nevada Revised Statutes 279B.020
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• 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}
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• 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.
• Articles: means either the articles of incorporation of a professional corporation or the articles of organization of a professional limited-liability company. See Nevada Revised Statutes 89.020
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• 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.
• 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.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• 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.
• Board: means the Board of Museums and History. See Nevada Revised Statutes 381.001
• Carey Act: means the provisions of Nevada Revised Statutes 324.010
• Certificate of limited partnership: means the certificate referred to in Nevada Revised Statutes 88.315
• Chair: means the Chair of the Nevada Indian Commission. See Nevada Revised Statutes 233A.001
• Chambers: A judge's office.
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Claimant: includes a natural person, firm, partnership, association or corporation. See Nevada Revised Statutes 339.015
• Commission: means the Nevada Indian Commission. See Nevada Revised Statutes 233A.001
• Commission: means the Commission for Cultural Centers and Historic Preservation created by Nevada Revised Statutes 383.011
• 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.
• Contract: A legal written agreement that becomes binding when signed.
• Contracting body: means the State, county, city, town, school district, or any public agency of the State or its political subdivisions which has authority to contract for the construction, alteration or repair of any public building or other public work or public improvement. See Nevada Revised Statutes 339.015
• Contribution: means any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in his or her capacity as a partner. See Nevada Revised Statutes 88.315
• controlled substance: means a drug, immediate precursor or other substance which is listed in schedule I, II, III, IV or V for control by the State Board of Pharmacy pursuant to Nevada Revised Statutes 0.031
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Council: means the Private Activity Bond Council created by Nevada Revised Statutes 348A.010
• county: includes Carson City. See Nevada Revised Statutes 0.033
• Cultural affiliation: has the meaning ascribed to it in Nevada Revised Statutes 383.011
• culturally affiliated: means that there is a relationship of shared group identity that may be reasonably traced historically or prehistorically between a present-day Indian tribe and an identifiable earlier group which is associated with a particular artifact or site. See Nevada Revised Statutes 381.001
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Department of Motor Vehicles. See Nevada Revised Statutes 481.015
• Department: means the Department of Tourism and Cultural Affairs. See Nevada Revised Statutes 381.001
• Department: means the State Department of Conservation and Natural Resources. See Nevada Revised Statutes 383.011
• Dependent: A person dependent for support upon another.
• 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.
• Director: means the Director of the Department of Business and Industry. See Nevada Revised Statutes 348A.010
• Director: means the Director of the Department. See Nevada Revised Statutes 481.015
• Director: means the Director of the Department. See Nevada Revised Statutes 381.001
• 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:
• Division: means the Division of State Lands of the State Department of Conservation and Natural Resources. See Nevada Revised Statutes 324.010
• Division: means the Division of Museums and History of the Department. See Nevada Revised Statutes 381.001
• Donor: The person who makes a gift.
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Employee: means a person licensed or otherwise legally authorized to render professional service within this State who renders such service through a professional entity or a professional association, but does not include clerks, bookkeepers, technicians or other persons who are not usually considered by custom and practice of the profession to be rendering professional services to the public. See Nevada Revised Statutes 89.020
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• 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.
• Event of withdrawal of a general partner: means an event that causes a person to cease to be a general partner as provided in Nevada Revised Statutes 88.315
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• 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}
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• 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}
• Foreign limited partnership: means a partnership formed under the laws of a jurisdiction other than this State and having as partners one or more general partners and one or more limited partners. See Nevada Revised Statutes 88.315
• Foreign registered limited-liability limited partnership: means a foreign limited-liability limited partnership:

  (a) Formed pursuant to an agreement governed by the laws of another state; and

  (b) Registered pursuant to and complying with Nevada Revised Statutes 88.315

• 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}
• Fraud: Intentional deception resulting in injury to another.
• Fund: means a revolving fund for loans for the rehabilitation of residential property. See Nevada Revised Statutes 279A.020
• Funerary object: means an object that, as a part of the death rite or ceremony of an Indian tribe is reasonably believed to have been placed with individual prehistoric native Indian human remains either at the time of death or later. See Nevada Revised Statutes 381.001
• 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
• General partner: means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner. See Nevada Revised Statutes 88.315
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governing body: means the governing body of a county or city. See Nevada Revised Statutes 279A.020
• Governing body: means the governing body of a county or city. See Nevada Revised Statutes 279B.020
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Historic: has the meaning ascribed to it in Nevada Revised Statutes 381.001
• 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}
• Indian tribe: has the meaning ascribed to it in Nevada Revised Statutes 381.001
• Indian tribe: means any tribe, band, nation or other organized group or community of Indians which is recognized as eligible for the special programs and services provided by the United States to native Indians because of their status as native Indians. See Nevada Revised Statutes 383.011
• 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.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• insurance consultant: means a person who, for a fee, holds himself or herself out to the public as engaged in the business of offering advice, counsel, opinion or service with respect to the benefits, advantages or disadvantages promised pursuant to any policy of insurance that could be issued in this State. See Nevada Revised Statutes 683C.010
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• 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.
• 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.
• Jurisprudence: The study of law and the structure of the legal system.
• Juror: A person who is on the jury.
• 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}
• Legatee: A beneficiary of a decedent
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensed: means legally authorized by the appropriate regulating board of this State to engage in a regulated profession in this State. See Nevada Revised Statutes 89.020
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited partner: means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement. See Nevada Revised Statutes 88.315
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Majority leader: see Floor Leaders
• Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Museum: means the Stewart Indian School Cultural Center and Museum established pursuant to Nevada Revised Statutes 233A.001
• Museum director: means the executive director of an institution of the Division appointed by the Administrator pursuant to Nevada Revised Statutes 381.001
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• 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.
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Office: means the Office of Historic Preservation of the Department. See Nevada Revised Statutes 383.011
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means the owner of stock in a professional corporation or the owner of a member"s interest, as defined in Nevada Revised Statutes 89.020
• Partner: means a limited or general partner. See Nevada Revised Statutes 88.315
• 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.
• Partnership agreement: means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business. See Nevada Revised Statutes 88.315
• Partnership interest: means a partner"s share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets. See Nevada Revised Statutes 88.315
• permanent identifying: as used in this chapter with respect to the number of a vehicle subject to registration under this chapter shall, for the purpose of the registration or departmental record thereof, or any evidence of such registration, be construed to mean such identification, or permanent identifying number of any vehicle which the manufacturer thereof may, in its discretion, adopt or has adopted as an identification or permanent identifying number of the vehicles manufactured by it, or which the Director may approve as the identification number, in lieu of or in addition to a motor number or serial number or a motor and serial number. See Nevada Revised Statutes 482.050
• person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
• Personal property: All property that is not real property.
• Petit jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
• physician: means a person who engages in the practice of medicine, including osteopathy and homeopathy. See Nevada Revised Statutes 0.040
• 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.
• population: means the number of people in a specified area as determined by the last preceding national decennial census conducted by the Bureau of the Census of the United States Department of Commerce pursuant to Section 2 of Nevada Revised Statutes 0.050
• 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.
• Prehistoric: has the meaning ascribed to it in Nevada Revised Statutes 381.001
• Prehistoric: has the meaning ascribed to it in Nevada Revised Statutes 383.011
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Private activity bond: has the meaning ascribed to it in Nevada Revised Statutes 348A.010
• Private law: A private bill enacted into law. Private laws have restricted applicability, often addressing immigration and naturalization issues affecting individuals.
• 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.
• Professional association: means a common-law association of two or more persons licensed or otherwise legally authorized to render professional service within this State when created by written articles of association which contain in substance the following provisions characteristic of corporate entities:

  (a) The death, insanity, bankruptcy, retirement, resignation, expulsion or withdrawal of any member of the association does not cause its dissolution. See Nevada Revised Statutes 89.020

• Professional corporation: means a corporation organized under this chapter to render a professional service. See Nevada Revised Statutes 89.020
• Professional entity: means either a professional corporation or a professional limited-liability company. See Nevada Revised Statutes 89.020
• Professional limited-liability company: means a limited-liability company organized pursuant to this chapter to render professional service. See Nevada Revised Statutes 89.020
• Professional service: means any type of personal service which may legally be performed only pursuant to a license, certificate of registration or other legal authorization. See Nevada Revised Statutes 89.020
• Program: means a program for the rehabilitation of residential neighborhoods established by a governing body pursuant to this chapter. See Nevada Revised Statutes 279A.020
• Program: means a program for the rehabilitation of abandoned residential properties established by a governing body pursuant to this chapter. See Nevada Revised Statutes 279B.020
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• 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.
• 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}
• Registered agent: has the meaning ascribed to it in Nevada Revised Statutes 88.315
• Registered limited-liability limited partnership: means a limited partnership:

  (a) Formed pursuant to an agreement governed by this chapter; and

  (b) Registered pursuant to and complying with Nevada Revised Statutes 88.315

• Registered office: means the office maintained at the street address of the registered agent. See Nevada Revised Statutes 88.315
• Regulating board: means the body which regulates and authorizes the admission to the profession which a professional entity or a professional association is authorized to perform. See Nevada Revised Statutes 89.020
• Rehabilitation: includes structural improvements, landscaping and any other measure to improve the appearance of property or maintain property in a decent, safe and sanitary condition. See Nevada Revised Statutes 279A.020
• Rehabilitation: includes structural improvements, landscaping and any other measure to improve the appearance of property or maintain property in a decent, safe and sanitary condition. See Nevada Revised Statutes 279B.020
• 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.
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• 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.
• Restricted limited partnership: means a limited partnership organized and existing under this chapter that elects to include the optional provisions permitted by Nevada Revised Statutes 88.315
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• special district: means any water district, sanitation district, water and sanitation district, municipal power district, mosquito abatement district, public cemetery district, swimming pool district, television maintenance district, weed control district, general improvement district, or any other quasi-municipal corporation organized under the local improvement and service district laws of this State as enumerated in this title, but excludes:

  (a) All parks, trails and open space districts created pursuant to chapter 318A of NRS; and

  (b) All housing authorities. See Nevada Revised Statutes 308.020

• State: means a state, territory or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico. See Nevada Revised Statutes 88.315
• State ceiling: has the meaning ascribed to it in Nevada Revised Statutes 348A.010
• 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.
• Subpoena: A command to a witness to appear and give testimony.
• substantial bodily harm: means :

  1. See Nevada Revised Statutes 0.060

• Summons: Another word for subpoena used by the criminal justice system.
• Taylor Grazing Act: means that certain Act of Congress approved June 28, 1934, and being chapter 865, 48 Stat. See Nevada Revised Statutes 323.010
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• 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.
• 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.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• 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}
• 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}
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Volume cap: has the meaning ascribed to it in Nevada Revised Statutes 348A.010
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.