Terms Used In Utah Code > Title 70C > Chapter 7 - Remedies and Penalties

• Agreement: means the bargain of the parties in fact as stated in a written contract or otherwise as found in the parties' language or by implication from other circumstances, including:
       (1)(a) course of dealing;
       (1)(b) usage of trade; or
       (1)(c) course of performance. See Utah Code 70C-1-302
• Alcoholic product: includes an alcoholic beverage. See Utah Code 32B-1-102
• 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}
• 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.
• Beer: means a product that:
            (11)(a)(i) contains:

                 (11)(a)(i)(A) at least . See Utah Code 32B-1-102
• Container: means a receptacle that contains an alcoholic product, including:
       (25)(a) a bottle;
       (25)(b) a vessel; or
       (25)(c) a similar item. See Utah Code 32B-1-102
• Contract: A legal written agreement that becomes binding when signed.
• Contract: means a document containing written terms and conditions of a credit agreement. See Utah Code 70C-1-302
• Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) ^{Source: OCC}
• 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}
• Creditor: means :
            (4)(a)(i) a party:

                 (4)(a)(i)(A) who regularly extends consumer credit that is subject to a finance charge or is payable by written agreement in more than four installments, not including a down payment; and

                 (4)(a)(i)(B) to whom the obligation is initially payable, either on the face of the note or contract, or by agreement when there is no note or contract;
            (4)(a)(ii) an issuer of a credit card that extends either open-end credit or credit that:

                 (4)(a)(ii)(A) is not subject to a finance charge; and

                 (4)(a)(ii)(B) is not payable by written agreement in more than four installments; and
            (4)(a)(iii) an issuer of a credit card that extends closed-end credit that:

                 (4)(a)(iii)(A) is subject to a finance charge; or

                 (4)(a)(iii)(B) is payable by written agreement in more than four installments. See Utah Code 70C-1-302
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Disposable earnings: means that part of the earnings of an individual remaining after the deduction from those earnings of amounts required by law to be withheld. See Utah Code 70C-7-103
• Earnings: means compensation paid or payable to an individual or for the individual's account for personal services rendered or to be rendered by the individual whether denominated as wages, salary, commission, bonus, or otherwise, and includes periodic payments pursuant to a pension, retirement, or disability program. See Utah Code 70C-1-302
• Education loan: means a loan subject to this title, or notwithstanding Subsection 70C-1-202(2)(h)(ii)(B)(II), made by a depository institution that:
            (1)(b)(i) is closed end;
            (1)(b)(ii) is a qualified education loan as defined in Utah Code 70C-7-103
• 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}
• 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.
• 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}
• Furnish: includes to:
            (47)(b)(i) serve;
            (47)(b)(ii) deliver; or
            (47)(b)(iii) otherwise make available. See Utah Code 32B-1-102
• Licensee: means a person who holds a license. See Utah Code 32B-1-102
• Liquor: includes :
                 (66)(a)(ii)(A) heavy beer;
                 (66)(a)(ii)(B) wine; and
                 (66)(a)(ii)(C) a flavored malt beverage. See Utah Code 32B-1-102
• 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.
• Package agent: means a person who holds a package agency. See Utah Code 32B-1-102
• Party: means an individual and any other entity legally capable of entering into a binding contract. See Utah Code 70C-1-302
• Permittee: means a person issued a permit under:
       (89)(a) Chapter 9, Event Permit Act; or
       (89)(b) Chapter 10, Special Use Permit Act. See Utah Code 32B-1-102
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Public building: means a building or permanent structure that is:
            (99)(a)(i) owned or leased by:

                 (99)(a)(i)(A) the state; or

                 (99)(a)(i)(B) a local government entity; and
            (99)(a)(ii) used for:

                 (99)(a)(ii)(A) public education;

                 (99)(a)(ii)(B) transacting public business; or

                 (99)(a)(ii)(C) regularly conducting government activities. See Utah Code 32B-1-102
• 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.
• Supplier: means a person who sells an alcoholic product to the department. See Utah Code 32B-1-102