Terms Used In U.S. Code > Title 52 > Subtitle II > Chapter 209
- Administrator: means the Administrator of the Environmental Protection Agency. See
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
- alternative trading system: means an organization, association, or group of persons that--
(A) is registered as a broker or dealer pursuant to section 15(b) of the Securities Exchange Act of 1934 [15 U. See 5 USC 8320
- 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.
- Amortization: Paying off a loan by regular installments.
- 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.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Appraisal: A determination of property value.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- 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.
- Board: means the Board of Governors of the Federal Reserve System. See 5 USC 8320
- board of trade: means any organized exchange or other trading facility. See 5 USC 8320
- cleared swap: means any swap that is, directly or indirectly, submitted to and cleared by a derivatives clearing organization registered with the Commission. See 5 USC 8320
- commerce: means any trade, traffic, transportation, exchange, or other commerce--
- commerce: means trade, traffic, transportation, or other commerce (A) between a place in a State and any place outside of such State, or (B) which affects trade, traffic, transportation, or commerce described in clause (A). See
- Commission: means the Commodity Futures Trading Commission established under section 2(a)(2) of this title. See 5 USC 8320
- commodity: means wheat, cotton, rice, corn, oats, barley, rye, flaxseed, grain sorghums, mill feeds, butter, eggs, Solanum tuberosum (Irish potatoes), wool, wool tops, fats and oils (including lard, tallow, cottonseed oil, peanut oil, soybean oil, and all other fats and oils), cottonseed meal, cottonseed, peanuts, soybeans, soybean meal, livestock, livestock products, and frozen concentrated orange juice, and all other goods and articles, except onions (as provided by section 13-1 of this title) and motion picture box office receipts (or any index, measure, value, or data related to such receipts), and all services, rights, and interests (except motion picture box office receipts, or any index, measure, value or data related to such receipts) in which contracts for future delivery are presently or in the future dealt in. See 5 USC 8320
- commodity pool: means any investment trust, syndicate, or similar form of enterprise operated for the purpose of trading in commodity interests, including any--
(i) commodity for future delivery, security futures product, or swap. See 5 USC 8320
- commodity pool operator: means any person--
(i) engaged in a business that is of the nature of a commodity pool, investment trust, syndicate, or similar form of enterprise, and who, in connection therewith, solicits, accepts, or receives from others, funds, securities, or property, either directly or through capital contributions, the sale of stock or other forms of securities, or otherwise, for the purpose of trading in commodity interests, including any--
(I) commodity for future delivery, security futures product, or swap. See 5 USC 8320
- commodity trading advisor: means any person who--
(i) for compensation or profit, engages in the business of advising others, either directly or through publications, writings, or electronic media, as to the value of or the advisability of trading in--
(I) any contract of sale of a commodity for future delivery, security futures product, or swap. See 5 USC 8320
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
- Continuance: Putting off of a hearing ot trial until a later time.
- contract of sale: includes sales, agreements of sale, and agreements to sell. See 5 USC 8320
- controlled substance: has the meaning given that term in section 802(6) of title 21. See 7 USC 3105
- 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.
- day: means the time from eight o'clock antemeridian to five o'clock postmeridian. See 7 USC 3105
- Decedent: A deceased person.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Defense attorney: Represent defendants in criminal matters.
- derivatives clearing organization: means a clearinghouse, clearing association, clearing corporation, or similar entity, facility, system, or organization that, with respect to an agreement, contract, or transaction--
(i) enables each party to the agreement, contract, or transaction to substitute, through novation or otherwise, the credit of the derivatives clearing organization for the credit of the parties. See 5 USC 8320
- 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:
- Docket: A log containing brief entries of court proceedings.
- electronic data interchange system: means any established mechanism approved by the Commissioner of U. See 7 USC 3105
- electronic trading facility: means a trading facility that--
(A) operates by means of an electronic or telecommunications network. See 5 USC 8320
- eligible commercial entity: means , with respect to an agreement, contract or transaction in a commodity--
(A) an eligible contract participant described in clause (i), (ii), (v), (vii), (viii), or (ix) of paragraph (18)(A) that, in connection with its business--
(i) has a demonstrable ability, directly or through separate contractual arrangements, to make or take delivery of the underlying commodity. See 5 USC 8320
- eligible contract participant: means --
(A) acting for its own account--
(i) a financial institution. See 5 USC 8320
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- environment: includes water, air, and land and the interrelationship which exists among and between water, air, and land and all living things. See
- 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
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- excluded commodity: means --
(i) an interest rate, exchange rate, currency, security, security index, credit risk or measure, debt or equity instrument, index or measure of inflation, or other macroeconomic index or measure. See 5 USC 8320
- Executor: A male person named in a will to carry out the decedent
- 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.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- Felony: A crime carrying a penalty of more than a year in prison.
- Fiduciary: A trustee, executor, or administrator.
- financial institution: means --
(A) a corporation operating under the fifth undesignated paragraph of section 25 of the Federal Reserve Act (12 U. See 5 USC 8320
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
- floor broker: means any person--
(i) who, in or surrounding any pit, ring, post, or other place provided by a contract market for the meeting of persons similarly engaged, shall purchase or sell for any other person--
(I) any commodity for future delivery, security futures product, or swap. See 5 USC 8320
- floor trader: means any person--
(i) who, in or surrounding any pit, ring, post, or other place provided by a contract market for the meeting of persons similarly engaged, purchases, or sells solely for such person's own account--
(I) any commodity for future delivery, security futures product, or swap. See 5 USC 8320
- foreign futures authority: means any foreign government, or any department, agency, governmental body, or regulatory organization empowered by a foreign government to administer or enforce a law, rule, or regulation as it relates to a futures or options matter, or any department or agency of a political subdivision of a foreign government empowered to administer or enforce a law, rule, or regulation as it relates to a futures or options matter. See 5 USC 8320
- franchise: includes --
(i) any contract under which a retailer or distributor (as the case may be) is authorized or permitted to occupy leased marketing premises, which premises are to be employed in connection with the sale, consignment, or distribution of motor fuel under a trademark which is owned or controlled by such refiner or by a refiner which supplies motor fuel to the distributor which authorizes or permits such occupancy. See
- franchise relationship: means the respective motor fuel marketing or distribution obligations and responsibilities of a franchisor and a franchisee which result from the marketing of motor fuel under a franchise. See
- franchisee: means a retailer or distributor (as the case may be) who is authorized or permitted, under a franchise, to use a trademark in connection with the sale, consignment, or distribution of motor fuel. See
- franchisor: means a refiner or distributor (as the case may be) who authorizes or permits, under a franchise, a retailer or distributor to use a trademark in connection with the sale, consignment, or distribution of motor fuel. See
- Fraud: Intentional deception resulting in injury to another.
- futures commission merchant: means an individual, association, partnership, corporation, or trust--
(aa) engaged in soliciting or in accepting orders for--
(AA) the purchase or sale of a commodity for future delivery. See 5 USC 8320
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
- Grantor: The person who establishes a trust and places property into it.
- 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.
- Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
- hovering vessel: means --
(1) any vessel which is found or kept off the coast of the United States within or without the customs waters, if, from the history, conduct, character, or location of the vessel, it is reasonable to believe that such vessel is being used or may be used to introduce or promote or facilitate the introduction or attempted introduction of merchandise into the United States in violation of the laws of the United States. See 7 USC 3105
- hybrid instrument: means a security having one or more payments indexed to the value, level, or rate of, or providing for the delivery of, one or more commodities. See 5 USC 8320
- Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- interstate commerce: means commerce--
(A) between any State, territory, or possession, or the District of Columbia, and any place outside thereof. See 5 USC 8320
- Intestate: Dying without leaving a will.
- introducing broker: means any person (except an individual who elects to be and is registered as an associated person of a futures commission merchant)--
(I) is engaged in soliciting or in accepting orders for--
(aa) the purchase or sale of any commodity for future delivery, security futures product, or swap. See 5 USC 8320
- Joint resolution: A legislative measure which requires the approval of both chambers.
- 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.
- Juror: A person who is on the jury.
- Law clerk: Assist judges with research and drafting of opinions.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- leased marketing premises: means marketing premises owned, leased, or in any way controlled by a franchisor and which the franchisee is authorized or permitted, under the franchise, to employ in connection with the sale, consignment, or distribution of motor fuel. See
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- major security-based swap participant: has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U. See 5 USC 8320
- major swap participant: means any person who is not a swap dealer, and--
(i) maintains a substantial position in swaps for any of the major swap categories as determined by the Commission, excluding--
(I) positions held for hedging or mitigating commercial risk. See 5 USC 8320
- Majority leader: see Floor Leaders
- manufacture: means to import into the customs territory of the United States (as defined in general note 2 of the Harmonized Tariff Schedule of the United States), produce, or manufacture. See
- marketing premises: means , in the case of any franchise, premises which, under such franchise, are to be employed by the franchisee in connection with sale, consignment, or distribution of motor fuel. See
- master: means the person having the command of the vessel. See 7 USC 3105
- member: means , with respect to a registered entity or derivatives transaction execution facility, an individual, association, partnership, corporation, or trust--
(A) owning or holding membership in, or admitted to membership representation on, the registered entity or derivatives transaction execution facility. See 5 USC 8320
- merchandise: means goods, wares, and chattels of every description, and includes merchandise the importation of which is prohibited, and monetary instruments as defined in section 5312 of title 31. See 7 USC 3105
- Minority leader: See Floor Leaders
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- motor fuel: means gasoline and diesel fuel of a type distributed for use as a fuel in self-propelled vehicles designed primarily for use on public streets, roads, and highways. See
- narrow-based security index: means an index--
(i) that has 9 or fewer component securities. See 5 USC 8320
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- night: means the time from five o'clock postmeridian to eight o'clock antemeridian. See 7 USC 3105
- option: means an agreement, contract, or transaction that is of the character of, or is commonly known to the trade as, an "option" "privilege" "indemnity" "bid" "offer" "put" "call" "advance guaranty" or "decline guaranty". See 5 USC 8320
- organized exchange: means a trading facility that--
(A) permits trading--
(i) by or on behalf of a person that is not an eligible contract participant. See 5 USC 8320
- Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
- Oversight: Committee review of the activities of a Federal agency or program.
- 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: import s the plural or singular, and includes individuals, associations, partnerships, corporations, and trusts. See 5 USC 8320
- person: includes partnerships, associations, and corporations. See 7 USC 3105
- Personal property: All property that is not real property.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
- Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
- process: means the preparation of a chemical substance or mixture, after its manufacture, for distribution in commerce--
(A) in the same form or physical state as, or in a different form or physical state from, that in which it was received by the person so preparing such substance or mixture, or
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- prudential regulator: means --
(A) the Board in the case of a swap dealer, major swap participant, security-based swap dealer, or major security-based swap participant that is--
(i) a State-chartered bank that is a member of the Federal Reserve System. See 5 USC 8320
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Quorum: The number of legislators that must be present to do business.
- Quorum call: A call of the roll to establish whether a quorum is present. If any legislator "suggests the absence of a quorum," the presiding officer must direct the roll to be called.
- Ranking minority member: The highest ranking (and usually longest serving) minority member of a committee or subcommittee.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Recess: A temporary interruption of the legislative business.
- registered entity: means --
(A) a board of trade designated as a contract market under section 7 of this title. See 5 USC 8320
- relevant geographic market area: includes a State or a standard metropolitan statistical area as periodically established by the Office of Management and Budget. See
- 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.
- Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
- Secretary: means the Secretary of the Treasury or his delegate. See 7 USC 3105
- Secretary: means the Secretary of the Treasury. See 5 USC 8320
- security: means a security as defined in section 2(a)(1) of the Securities Act of 1933 (15 U. See 5 USC 8320
- security future: means a contract of sale for future delivery of a single security or of a narrow-based security index, including any interest therein or based on the value thereof, except an exempted security under section 3(a)(12) of the Securities Exchange Act of 1934 [15 U. See 5 USC 8320
- security futures product: means a security future or any put, call, straddle, option, or privilege on any security future. See 5 USC 8320
- security-based swap: has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U. See 5 USC 8320
- security-based swap dealer: has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U. See 5 USC 8320
- 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.
- significant price discovery contract: means an agreement, contract, or transaction subject to section 2(h)(5) of this title. See 5 USC 8320
- State: means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, Guam, and any other commonwealth, territory, or possession of the United States. See
- State: means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, the Canal Zone, American Samoa, the Northern Mariana Islands, or any other territory or possession of the United States. See
- Statute: A law passed by a legislature.
- Statutes at large: A chronological listing of the laws enacted each Congress. They are published in volumes numbered by Congress.
- swap: includes a master agreement that provides for an agreement, contract, or transaction that is a swap under subparagraph (A), together with each supplement to any master agreement, without regard to whether the master agreement contains an agreement, contract, or transaction that is not a swap pursuant to subparagraph (A). See 5 USC 8320
- swap data repository: means any person that collects and maintains information or records with respect to transactions or positions in, or the terms and conditions of, swaps entered into by third parties for the purpose of providing a centralized recordkeeping facility for swaps. See 5 USC 8320
- swap dealer: means any person who--
(i) holds itself out as a dealer in swaps. See 5 USC 8320
- swap execution facility: means a trading system or platform in which multiple participants have the ability to execute or trade swaps by accepting bids and offers made by multiple participants in the facility or system, through any means of interstate commerce, including any trading facility, that--
(A) facilitates the execution of swaps between persons. See 5 USC 8320
- Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
- termination: includes cancellation. See
- Testify: Answer questions in court.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- trademark: means any trademark, trade name, service mark, or other identifying symbol or name. See
- trading facility: means a person or group of persons that constitutes, maintains, or provides a physical or electronic facility or system in which multiple participants have the ability to execute or trade agreements, contracts, or transactions--
(i) by accepting bids or offers made by other participants that are open to multiple participants in the facility or system. See 5 USC 8320
- Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
- United States: includes all Territories and possessions of the United States except the Virgin Islands, American Samoa, Wake Island, Midway Islands, Kingman Reef, Johnston Island, and the island of Guam. See 7 USC 3105
- United States: when used in the geographic sense, means all of the States. See
- Uphold: The decision of an appellate court not to reverse a lower court decision.
- User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
- vehicle: includes every description of carriage or other contrivance used, or capable of being used, as a means of transportation on land, but does not include aircraft. See 7 USC 3105
- Venue: The geographical location in which a case is tried.
- vessel: includes every description of water craft or other contrivance used, or capable of being used, as a means of transportation in water, but does not include aircraft. See 7 USC 3105
- Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
- Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.