Terms Used In Vermont Statutes Title 9 Sec. 2a-509

• Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See
• Contract: A legal written agreement that becomes binding when signed.
• Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§ 2A—309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See
• Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See
• 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}
• Lessee: means a person who acquires the right to possession and use of goods under a lease. See
• Lessor: means a person who transfers the right to possession and use of goods under a lease. See