Terms Used In Vermont Statutes > Title 9A > Article 2 - Sales

• Actual notice: means receipt of written notice hand-delivered or mailed to the last known address. See
• Agent: means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities. See
• 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.
• 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.
• 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.
• Bank: means :

• 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.
• Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See
• Buyer: means a person who buys or contracts to buy goods. See
• Commissioner: means the Commissioner of Financial Regulation. See
• common enterprise: means an enterprise in which the fortunes of the investor are interwoven with those of either the person offering the investment, a third party, or other investors; and

• 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.
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See
• Conviction: A judgement of guilt against a criminal defendant.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Depository institution: means :

• 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:
• Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
• Dwelling unit: means a building or the part of a building that is used as a home, residence, or sleeping place by one or more persons who maintain a household. See
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executor: A male person named in a will to carry out the decedent
• Federal covered investment adviser: means a person registered under 15 U. See
• Federal covered security: means a security that is, or upon completion of a transaction will be, a covered security under 15 U. See
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• Fiduciary: A trustee, executor, or administrator.
• Filing: means the receipt under this chapter of a record by the Commissioner or a designee of the Commissioner. See
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guaranteed: means guaranteed as to payment of all principal and all interest. See
• 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.
• inhabitants: shall mean the population of the political division referred to, as ascertained by the national census last completed before the time when such population is a material fact. See
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Institutional investor: means any of the following, whether acting for itself or for others in a fiduciary capacity:

• Insurance company: means a company organized as an insurance company whose primary business is writing insurance or reinsuring risks underwritten by insurance companies and that is subject to supervision by the insurance commissioner or a similar official or agency of a state. See
• Insured: means insured as to payment of all principal and all interest. See
• International banking institution: means an international financial institution of which the United States is a member and whose securities are exempt from registration under 15 U. See
• Investment adviser: means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See
• Investment adviser representative: means an individual employed by or associated with an investment adviser or federal covered investment adviser and who makes any recommendations or otherwise gives investment advice regarding securities, manages accounts or portfolios of clients, determines which recommendation or advice regarding securities should be given, provides investment advice or holds himself or herself out as providing investment advice, receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice, or supervises employees who perform any of the foregoing. See
• Issuer: means a person that issues or proposes to issue a security, subject to the following:

• 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.
• Justice: when applied to a person, other than a Justice of the Supreme Court, shall mean a justice of the peace for the county for which he or she is elected or appointed. See
• Landlord: means the owner, lessor, or where applicable, the sublessor of a residential dwelling unit or the building of which it is a part. See
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
• Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
• nonissuer distribution: means a transaction or distribution not directly or indirectly for the benefit of the issuer. See
• Normal wear and tear: means the deterioration that occurs, based upon the reasonable use for which the rental unit is intended, without negligence, carelessness, accident, or abuse of the premises or equipment or chattels by the tenant or members of his or her household or their invitees or guests. See
• Offer to purchase: includes an attempt or offer to obtain, or solicitation of an offer to sell, a security or interest in a security for value. See
• Person: means both the plural and singular, as the case demands and includes individuals, partnerships, corporations, companies, societies, and associations. See
• Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Predecessor act: means chapter 131 of this title. See
• Premises: means a dwelling unit, its appurtenances and the building, and the grounds, areas, and facilities held out for the use of tenants generally or whose use is promised to the tenant. See
• present sale: means a sale which is accomplished by the making of the contract. See
• Price amendment: means the amendment to a registration statement filed under 15 U. See
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Protected tenant: means a tenant who is:

• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• public record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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.
• Rent: means all consideration to be made to or for the benefit of the landlord under the rental agreement, not including security deposits. See
• Rental agreement: means all agreements, written or oral, embodying terms and conditions concerning the use and occupancy of a dwelling unit and premises. See
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• Sale: includes every contract of sale, contract to sell, or disposition of a security or interest in a security for value, and "offer to sell" includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value. See
• Secretary: means the Secretary of the Agency of Agriculture, Food and Markets or his or her designee. See
• Securities and Exchange Commission: means the U. See
• Security: means a note; stock; treasury stock; security future; bond; debenture; evidence of indebtedness; certificate of interest or participation in a profit-sharing agreement; collateral trust certificate; preorganization certificate or subscription; transferable share; investment contract; voting trust certificate; certificate of deposit for a security; fractional undivided interest in oil, gas, or other mineral rights; put, call, straddle, option, or privilege on a security, certificate of deposit, or group or index of securities, including an interest therein or based on the value thereof; put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency; or, in general, an interest or instrument commonly known as a "security"; or a certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing. See
• Self-regulatory organization: means any national securities exchange, registered securities association, clearing agency registered under 15 U. See
• Seller: means a person who sells or contracts to sell goods. See
• 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.
• State: means a state of the United States, the District of Columbia, Puerto Rico, the U. See
• 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.
• Summons: Another word for subpoena used by the criminal justice system.
• sworn: shall include affirmed. See
• Tenant: means a person entitled under a rental agreement to occupy a residential dwelling unit to the exclusion of others. See
• Testify: Answer questions in court.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Vehicle: means any device in, upon, or by which any property, produce, commodity, or article is or may be transported or drawn. See
• weight: as used in this chapter in connection with any commodity shall mean net weight. See
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.