Terms Used In Utah Code > Title 13 > Chapter 57 > Part 3 - Maintenance Funding Agreements

• Contract: A legal written agreement that becomes binding when signed.
• Fraud: Intentional deception resulting in injury to another.
• Individual: means a person who:

  (a)	resides in this state; and

  (b)

  has or may have a pending legal action in this state. See Utah Code 13-57-102 Maintenance funding agreement: means an agreement between an individual and a maintenance funding provider under which the maintenance funding provider provides legal funding to the individual. See Utah Code 13-57-102 Maintenance funding provider: means a business entity that engages in the business of legal funding. See Utah Code 13-57-102 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 Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC 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. Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Verdict: The decision of a petit jury or a judge. Writing: includes :Utah Code 68-3-12.5