Terms Used In Virginia Code > Title 59.1 > Chapter 17.4 - Virginia Lease-Purchase Agreement Act

• Advertisement: means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a lease-purchase agreement. See Virginia Code 59.1-207.18
• Cash price: means the price at which the lessor would have sold the property to the consumer for cash on the date of the lease-purchase agreement. See Virginia Code 59.1-207.18
• Consumer: means a natural person who rents personal property under a lease-purchase agreement to be used primarily for personal, family or household purposes. See Virginia Code 59.1-207.18
• Consummation: means the time a consumer becomes contractually obligated on a lease-purchase agreement. See Virginia Code 59.1-207.18
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Transportation. See Virginia Code 33.2-100
• 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.
• Highway: means the entire width between the boundary lines of every way or place open to the use of the public for purposes of vehicular travel in the Commonwealth. See Virginia Code 33.2-100
• in writing: include any representation of words, letters, symbols, numbers, or figures, whether (i) printed or inscribed on a tangible medium or (ii) stored in an electronic or other medium and retrievable in a perceivable form and whether an electronic signature authorized by Virginia Code 1-257
• Interstate System: means the same as that term is defined in Virginia Code 33.2-100
• Lease-purchase agreement: means an agreement for the use of personal property by a natural person primarily for personal, family, or household purposes, for an initial period of four months or less that is automatically renewable with each payment after the initial period, but does not obligate or require the consumer to continue leasing or using the property beyond the initial period, and that permits the consumer to become the owner of the property. See Virginia Code 59.1-207.18
• Lessor: means a person who regularly provides the use of property through lease-purchase agreements and to whom lease payments are initially payable on the face of the lease-purchase agreement. See Virginia Code 59.1-207.18
• Locality: has the meaning assigned to it in § 1-221. See Virginia Code 33.2-100
• Maintenance: means (i) ordinary maintenance; (ii) maintenance replacement; (iii) operations that include traffic signal synchronization, incident management, and other intelligent transportation system functions; and (iv) any other categories of maintenance that may be designated by the Commissioner of Highways. See Virginia Code 33.2-100
• Oversight: Committee review of the activities of a Federal agency or program.
• Personal property: All property that is not real property.
• Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
• Roadway: means that portion of a highway improved, designed, or ordinarily used for vehicular travel. See Virginia Code 33.2-100
• Secondary highway: means any highway in or component of the secondary state highway system. See Virginia Code 33.2-100
• State: includes District of Columbia;

  (f) "Transit facilities" means all real and personal property located in the Zone, necessary or useful in rendering transit service between points within the Zone, by means of rail, bus, water or air and any other mode of travel, including, without limitation, tracks, rights-of-way, bridges, tunnels, subways, rolling stock for rail, motor vehicle, marine and air transportation, stations, terminals and ports, areas for parking and all equipment, fixtures, buildings and structures and services incidental to or required in connection with the performance of transit service;

  (g) "Transit services" means the transportation of persons and their packages and baggage by means of transit facilities between points within the Zone including the transportation of newspapers, express and mail between such points, and charter service which originates within the Zone but does not include taxicab service or individual-ticket-sales sightseeing operations;

  (h) "Transit Zone" or "Zone" means the Washington Metropolitan Area Transit Zone created and described in Section 3 as well as any additional area that may be added pursuant to Section 83(a) of this Compact; and

  (i) "WMATC" means Washington Metropolitan Area Transit Commission. See Virginia Code 33.2-3100

• Urban highway system: consists of those public highways, or portions thereof, not included in the systems of state highways, to which the Commonwealth Transportation Board directs payments pursuant to § Virginia Code 33.2-100