Utah Code 78A-5a-101. Definitions
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(1) “Action” means a lawsuit or case commenced in a court.
Terms Used In Utah Code 78A-5a-101
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- 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.
- 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.
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- 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
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- 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.
(2)(2)(a) “Asset” means property of all kinds, real or personal and tangible or intangible.(2)(b) “Asset” includes:(2)(b)(i) cash, except for any reasonable compensation or salary for services rendered;(2)(b)(ii) stock or other investments;(2)(b)(iii) goodwill;(2)(b)(iv) an ownership interest;(2)(b)(v) a license;(2)(b)(vi) a cause of action; and(2)(b)(vii) any similar property.(3) “Beneficial shareholder” means the same as that term is defined in Section16-10a-1301 .(4) “Blockchain” means the same as that term is defined in Section63A-16-108 .(5) “Blockchain technology” means computer software or hardware or collections of computer software or hardware, or both, that utilize or enable a blockchain.(6) “Board” means the board of directors or trustees of a corporation.(7) “Business” means any enterprise carried on for the purpose of gain or economic profit.(8)(8)(a) “Business organization” means an organization in any form that is primarily engaged in business.(8)(b) “Business organization” includes:(8)(b)(i) an association;(8)(b)(ii) a corporation;(8)(b)(iii) a joint stock company;(8)(b)(iv) a joint venture;(8)(b)(v) a limited liability company;(8)(b)(vi) a mutual fund trust;(8)(b)(vii) a partnership; or(8)(b)(viii) any other similar form of an organization described in Subsections (8)(b)(i) through (vii).(8)(c) “Business organization” does not include a governmental entity as defined in Section63G-7-102 .(9) “Claim” means a written demand or assertion in an action.(10) “Commercial tenant” means the same as that term is defined in Section78B-6-801 .(11) “Consumer contract” means a contract entered into by a consumer for the purchase of goods or services for personal, family, or household purposes.(12) “Court” means the Business and Chancery Court established in Section78A-5a-102 .(13) “Decentralized autonomous organization” means the same as that term is defined in Section48-5-101 .(14) “Franchisee” means the same as that term is defined in 16 C.F.R. § 436.1.(15) “Franchisor” means the same as that term is defined in 16 C.F.R. § 436.1.(16) “Governmental entity” means the same as that term is defined in Section63G-7-102 .(17) “Health care” means the same as that term is defined in Section78B-3-403 .(18) “Health care provider” means the same as that term is defined in Section78B-3-403 .(19) “Monetary damages” does not include:(19)(a) punitive or exemplary damages;(19)(b) prejudgment or postjudgment interest; or(19)(c) attorney fees or costs.(20) “Officer” means an individual designated by a board, or other governing body of a business organization, to act on behalf of the business organization.(21) “Owner” means a person who, directly or indirectly, owns or controls an ownership interest in a business organization regardless of whether the person owns or controls the ownership interest through another person, a power of attorney, or another business organization.(22) “Ownership interest” means an interest owned in a business organization, including any shares, membership interest, partnership interest, or governance or transferable interest.(23) “Personal injury” means a physical or mental injury, including wrongful death.(24) “Professional” means an individual whose profession requires a license, registration, or certification on the basis of experience, education, testing, or training.(25)(25)(a) “Provisional remedy” means a temporary order by a court while an action is pending.(25)(b) “Provisional remedy” includes a preliminary injunction, a temporary restraining order, a prejudgment writ, or an appointment of a receiver.(26) “Security” means the same as that term is defined in Section61-1-13 .(27) “Shareholder” means the record shareholder or the beneficial shareholder.(28) “Record shareholder” means the same as that term is defined in Section16-10a-1301 .(29) “Trustee” means a person that holds or administers an ownership interest on behalf of a third party.