Sections
Subchapter I Rights and Duties of Landlords and Tenants 6701 – 6718
Subchapter II Miscellaneous 6721 – 6724

Terms Used In Delaware Code > Title 25 > Chapter 67

  • Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit. See Delaware Code Title 6 Sec. 4-104
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See Delaware Code Title 6 Sec. 4-104
  • 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.
  • Buyer: means a person who buys or contracts to buy goods. See Delaware Code Title 6 Sec. 2-103
  • Clearing house: means an association of banks or other payors regularly clearing items. See Delaware Code Title 6 Sec. 4-104
  • Contract: A legal written agreement that becomes binding when signed.
  • Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See Delaware Code Title 6 Sec. 4-104
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (Section 8-102) or instructions for uncertificated securities (Section 8-102), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft. See Delaware Code Title 6 Sec. 4-104
  • dollars: means lawful money of the United States. See Delaware Code Title 6 Sec. 4307
  • Draft: means a draft as defined in Section 3-104 or an item, other than an instrument, that is an order. See Delaware Code Title 6 Sec. 4-104
  • Drawee: means a person ordered in a draft to make payment. See Delaware Code Title 6 Sec. 4-104
  • Ex officio: Literally, by virtue of one's office.
  • Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Delaware Code Title 6 Sec. 4-104
  • 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
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • 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.
  • Oath: includes affirmation in all cases where an affirmation may be substituted for an oath, and "sworn" includes affirmed; and the forms shall be varied accordingly. See Delaware Code Title 6 Sec. 4307
  • 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.
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • Quorum: The number of legislators that must be present to do business.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Seller: means a person who sells or contracts to sell goods. See Delaware Code Title 6 Sec. 2-103
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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.
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 6 Sec. 4307
  • Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 6 Sec. 4307