Terms Used In Utah Code > Title 70C > Chapter 2 - Finance Charges and Related Provisions

• Agreement: means the bargain of the parties in fact as stated in a written contract or otherwise as found in the parties' language or by implication from other circumstances, including:

  (a)	course of dealing;

  (b)	usage of trade; or

  (c)

  course of performance. See Utah Code 70C-1-302 Beer: means a product that: (i)  contains: (A)  at least . See Utah Code 32B-1-102 Beer retailer: means a business that: (a)  is engaged, primarily or incidentally, in the retail sale of beer to a patron, whether for consumption on or off the business premises; and (b)  is licensed as: (i)  an off-premise beer retailer, in accordance with 2; or (ii)  an on-premise beer retailer, in accordance with Chapter 5, Retail License Act, and 7. See Utah Code 32B-1-102 Commission: means the Alcoholic Beverage Services Commission created in Section 32B-2-201. See Utah Code 32B-1-102 Contract: A legal written agreement that becomes binding when signed. Contract: means a document containing written terms and conditions of a credit agreement. See Utah Code 70C-1-302 Creditor: means : (i)  a party: (A)  who regularly extends consumer credit that is subject to a finance charge or is payable by written agreement in more than four installments, not including a down payment; and (B)  to whom the obligation is initially payable, either on the face of the note or contract, or by agreement when there is no note or contract; (ii)  an issuer of a credit card that extends either open-end credit or credit that: (A)  is not subject to a finance charge; and (B)  is not payable by written agreement in more than four installments; and (iii)  an issuer of a credit card that extends closed-end credit that: (A)  is subject to a finance charge; or (B)  is payable by written agreement in more than four installments. See Utah Code 70C-1-302 Department: means the Department of Alcoholic Beverage Services created in Section 32B-2-203. See Utah Code 32B-1-102 Dwelling: means a residential structure attached to real property that contains one to four units including any of the following if used as a residence: (a)  a condominium unit; (b)  a cooperative unit; (c)  a manufactured home; or (d)  a house. See Utah Code 70C-1-302 Earnings: means compensation paid or payable to an individual or for the individual's account for personal services rendered or to be rendered by the individual whether denominated as wages, salary, commission, bonus, or otherwise, and includes periodic payments pursuant to a pension, retirement, or disability program. See Utah Code 70C-1-302 Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC Installment: means a payment upon a debt that is part of a series of payments, each of which is less than the original amount of the debt and scheduled as to a specific amount and due date by agreement of the parties for the purpose of repaying the debt. See Utah Code 70C-1-302 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 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. License: means : (a)  a retail license; (b)  a sublicense; (c)  a license issued in accordance with 4; (d)  a license issued in accordance with Chapter 11, Manufacturing and Related Licenses Act; (e)  a license issued in accordance with Chapter 12, Liquor Warehousing License Act; (f)  a license issued in accordance with Chapter 13, Beer Wholesaling License Act; or (g)  a license issued in accordance with Chapter 17, Liquor Transport License Act. See Utah Code 32B-1-102 Licensee: means a person who holds a license. See Utah Code 32B-1-102 Liquor: includes : (A)  heavy beer; (B)  wine; and (C)  a flavored malt beverage. See Utah Code 32B-1-102 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. Off-premise beer retailer: means a beer retailer who is: (i)  licensed in accordance with Chapter 7, Off-Premise Beer Retailer Act; and (ii)  engaged in the retail sale of beer to a patron for consumption off the beer retailer's premises. See Utah Code 32B-1-102 Off-premise beer retailer state license: means a state license issued in accordance with 4. See Utah Code 32B-1-102 offer for sale: means a transaction, exchange, or barter whereby, for consideration, an alcoholic product is either directly or indirectly transferred, solicited, ordered, delivered for value, or by a means or under a pretext is promised or obtained, whether done by a person as a principal, proprietor, or as staff, unless otherwise defined in this title or the rules made by the commission. See Utah Code 32B-1-102 Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC Package agency: means a retail liquor location operated: (a)  under an agreement with the department; and (b)  by a person: (i)  other than the state; and (ii)  who is authorized by the commission in accordance with 6, to sell packaged liquor for consumption off the premises of the package agency. See Utah Code 32B-1-102 Person: means :Utah Code 68-3-12.5 Premises: means a building, enclosure, or room used in connection with the storage, sale, furnishing, consumption, manufacture, or distribution, of an alcoholic product, unless otherwise defined in this title or rules made by the commission. See Utah Code 32B-1-102 Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5 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. 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 Store: means to place or maintain in a location an alcoholic product. See Utah Code 32B-1-102 Writing: includes :Utah Code 68-3-12.5