Terms Used In Utah Code > Title 13 > Chapter 58 > Part 4 - Termination or Nonrenewal of Agreements

• Agreement: means an agreement between:
       (1)(a) a motorboat dealer; and
       (1)(b)

            (1)(b)(i) a manufacturer; or

            (1)(b)(ii) a distributor. See Utah Code 13-58-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• 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.
• Distributor: means a person who:
       (2)(a) has an agreement with a manufacturer of motorboats to distribute motorboats within this state; and
       (2)(b) in whole or in part sells or distributes motorboats to motorboat dealers. See Utah Code 13-58-102
• 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.
• Fiscal period: means the annual or biennial period for recording county fiscal operations. See Utah Code 17-36-3
• Fraud: Intentional deception resulting in injury to another.
• Manufacturer: means a person engaged in the business of constructing, manufacturing, assembling, producing, or importing new motorboats for the purpose of sale or trade. See Utah Code 13-58-102
• Motorboat: means the same as that term is defined in Section 73-18-2. See Utah Code 13-58-102
• Motorboat dealer: means a person who:
       (5)(a) is engaged in the business of buying, selling, offering for sale, or exchanging new motorboats either outright or on conditional sale, bailment, lease, chattel mortgage, or otherwise; and
       (5)(b) has established in this state a place of business for the sale, lease, trade, or display of new motorboats. See Utah Code 13-58-102
• 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.
• 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.
• 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.
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5