Virginia Code 59.1-9.3: Definitions
Current as of: 2024 | Check for updates
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When used in this chapter, unless the context requires a different meaning:
Terms Used In Virginia Code 59.1-9.3
- commerce: includes all economic activity involving or relating to any commodity, service, or business activity. See Virginia Code 59.1-9.3
- Commodity: includes any kind of real or personal property. See Virginia Code 59.1-9.3
- 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.
- Includes: means includes, but not limited to. See Virginia Code 1-218
- 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: includes any natural person; any trust or association of persons, formal or otherwise; or any corporation, partnership, company, or other legal or commercial entity. See Virginia Code 59.1-9.3
- Personal property: All property that is not real property.
- Service: includes any activity that is performed in whole or in part for the purpose of financial gain, including personal service, rental, leasing, or licensing for use. See Virginia Code 59.1-9.3
“Commodity” includes any kind of real or personal property.
“Person” includes any natural person; any trust or association of persons, formal or otherwise; or any corporation, partnership, company, or other legal or commercial entity.
“Service” includes any activity that is performed in whole or in part for the purpose of financial gain, including personal service, rental, leasing, or licensing for use.
“Trade or commerce,” “trade,” or “commerce” includes all economic activity involving or relating to any commodity, service, or business activity.
1974, c. 545; 2023, c. 522.