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Terms Used In Utah Code 70A-8-112

  • Contract: A legal written agreement that becomes binding when signed.
  • Security: except as otherwise provided in Section 70A-8-102, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer that:
              (1)(p)(i) is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;
              (1)(p)(ii) is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and
              (1)(p)(iii)
                   (1)(p)(iii)(A) is, or is of a type, dealt in or traded on securities exchanges or securities markets; or
                   (1)(p)(iii)(B) is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Utah Code 70A-8-101
  • Writing: includes :
         (48)(a) printing;
         (48)(b) handwriting; and
         (48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5

     A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making.