Terms Used In Vermont Statutes > Title 11C > Chapter 11 - Dissociation

• 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.
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Board of directors: means the board of directors of a mutual benefit enterprise. See
• Contract: A legal written agreement that becomes binding when signed.
• Cooperative: means an entity organized under any cooperative law of any jurisdiction. See
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Docket: A log containing brief entries of court proceedings.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Magistrate: shall mean any Supreme Court Justice, Superior judge, District judge, or Probate judge. See
• Member: means a person that is admitted as a patron member or investor member or both in a mutual benefit enterprise. See
• Mutual benefit enterprise: means an enterprise organized under this title. See
• 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.
• Organic rules: means the articles of organization and bylaws of a mutual benefit enterprise. See
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Person: means an individual; corporation; business trust; cooperative; estate; trust; partnership; limited partnership; limited liability company; mutual benefit enterprise; joint venture; association; public corporation; government or governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. See
• Transfer: includes an assignment, conveyance, deed, bill of sale, lease, mortgage, security interest, encumbrance, gift, and transfer by operation of law. See
• Trustee: A person or institution holding and administering property in trust.
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.