Terms Used In Virginia Code > Title 18.2 > Chapter 2 - Principals and Accessories

• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Executor: A male person named in a will to carry out the decedent
• Family: means a designated relative and family members of that designated relative. See Virginia Code 6.2-1074
• Operating plan: means a plan that establishes the policies and procedures a private trust company will have in effect when the institution opens for business and thereafter (i) to ensure that trust accounts are handled in accordance with recognized standards of fiduciary conduct and (ii) to assure compliance with applicable laws and regulations. See Virginia Code 6.2-1074
• Private trust company: means a corporation or limited liability company that is organized to engage in private trust business under this article with one or more family members and that does not transact business with the general public. See Virginia Code 6.2-1074
• Trust business: means the holding out by a person or legal entity to the public at large by advertising, solicitation or other means that the person or legal entity is available to act as a fiduciary in the Commonwealth or is accepting and undertaking to perform the duties of a fiduciary in the regular course of its business. See Virginia Code 6.2-1000
• Trust company: means a corporation, including an affiliated trust company, that is authorized to engage in the trust business under Article 2 (§ 6. See Virginia Code 6.2-1000
• Trust institution: means any (i) bank authorized to engage in the trust business, (ii) trust company, or (iii) trust subsidiary. See Virginia Code 6.2-1000