Terms Used In Utah Code > Title 13 > Chapter 15 > Part 2 - Seller Duties

• 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.
• Business opportunity: means an arrangement under which a person:

  (i)	sells or leases a product, equipment, a supply, or a service: (A)  upon payment of initial required consideration of at least $500; and (B)  for the purpose of enabling the buyer or lessee to start a business; and

  (ii)

  represents to the buyer or lessee that: (A)  the person will provide a location or assist the buyer or lessee find a location for the use or operation of a vending machine, rack, display case, or other similar device, or a currency-operated amusement machine or device, on premises neither owned nor leased by the person nor the buyer or lessee; (B)  the person will purchase a product the buyer or lessee makes, produces, fabricates, grows, or modifies, using in whole or in part the product, equipment, supply, or service the buyer or lessee buys or leases from the person; (C)  the person will provide the buyer or lessee with a guarantee that the buyer or lessee will receive income from the product, equipment, supply, or service the buyer or lessee buys or leases from the person that exceeds the amount the buyer or lessee pays to buy or lease the product, equipment, supply, or service, and if not the person will repurchase the product, equipment, supply, or service, if the buyer or lessee is dissatisfied; or (D)  the buyer or lessee will or may derive income from the business described in Subsection (1)(a)(i) that exceeds the amount the buyer or lessee pays to buy or lease the product, equipment, supply, or service. See Utah Code 13-15-102 Contract: A legal written agreement that becomes binding when signed. Division: means the Division of Consumer Protection of the Department of Commerce. See Utah Code 13-15-102 Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC Franchise: means the same as that term is defined by Federal Trade Commission rules governing franchise and business opportunity ventures. See Utah Code 13-15-102 Fraud: Intentional deception resulting in injury to another. Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. 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: when used to describe the powers, duties, or functions of a county commission or council, refers to: (a)  the power and duty to enact ordinances, levy taxes, and establish budgets; and (b)  those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the legislative branch of government. See Utah Code 17-50-101 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. Person: means :Utah Code 68-3-12.5 Principal: means as the division determines by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. See Utah Code 13-15-102 Property: includes both real and personal property. See Utah Code 68-3-12.5 Purchaser: means a person who buys or leases from another person a business opportunity. See Utah Code 13-15-102 Seller: means a person who offers to sell, offers to lease, sells, or leases to another person a business opportunity. See Utah Code 13-15-102 service mark: means a trademark, trade name, or service mark registered with the United States Patent and Trademark Office, or Utah, or the state of incorporation if a corporation. See Utah Code 13-15-102 State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5 Statute: A law passed by a legislature. Trustee: A person or institution holding and administering property in trust.