Terms Used In Virginia Code > Title 3.2 > Subtitle III > Chapter 43 > Article 3 - Grain Handlers

• Action: means a judicial proceeding or arbitration in which a payment in money may be awarded or enforced with respect to a foreign-money claim. See Virginia Code 8.01-465.14
• Adverse action: means a denial or revocation of credit, a change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms requested. See Virginia Code 6.2-500
• Applicant: means any person who applies to a creditor directly for an extension, renewal, or continuation of credit, or applies to a creditor indirectly by use of an existing credit plan for an amount exceeding the previously established credit limit. See Virginia Code 6.2-500
• Bank-offered spot rate: means the spot rate of exchange at which a bank will sell foreign money at a spot rate. See Virginia Code 8.01-465.14
• City: means an independent incorporated community which became a city as provided by law before noon on July 1, 1971, or which has within defined boundaries a population of 5,000 or more and which has become a city as provided by law. See Virginia Code 1-208
• Commission: means the State Corporation Commission. See Virginia Code 6.2-100
• Complex project: means a construction project that includes one or more of the following significant components: difficult site location, unique equipment, specialized building systems, multifaceted program, accelerated schedule, historic designation, or intricate phasing or some other aspect that makes competitive sealed bidding not practical. See Virginia Code 2.2-4379
• Construction management contract: means a contract in which a party is retained by the owner to coordinate and administer contracts for construction services for the benefit of the owner and may also include, if provided in the contract, the furnishing of construction services to the owner. See Virginia Code 2.2-4379
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conversion date: means the banking day next preceding the date on which money, in accordance with this chapter, is (i) paid to a claimant in an action or distribution proceeding; (ii) paid to the official designated by law to enforce a judgment or award on behalf of a claimant; or (iii) used to recoup, set off, or counterclaim in different moneys in an action or distribution proceeding. See Virginia Code 8.01-465.14
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Covered institution: means a public institution of higher education operating (i) subject to a management agreement set forth in Article 4 (§ 23. See Virginia Code 2.2-4379
• Credit: means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment or to purchase property or services and defer payment therefor. See Virginia Code 6.2-500
• Creditor: means any person who regularly extends, renews, or continues credit; any person who regularly arranges for the extension, renewal, or continuation of credit; or any assignee of an original creditor who participates in the decision to extend, renew, or continue credit. See Virginia Code 6.2-500
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Department of General Services. See Virginia Code 2.2-4379
• Distribution proceeding: means a judicial or nonjudicial proceeding for the distribution of a fund in which one or more foreign-money claims are asserted and includes an accounting, an assignment for the benefit of creditors, a foreclosure, the liquidation or rehabilitation of a corporation or other entity, and the distribution of an estate, trust, or other fund. See Virginia Code 8.01-465.14
• Equal Credit Opportunity Act: Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program. ^{Source: OCC}
• 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}
• Foreign money: means money other than money of the United States of America. See Virginia Code 8.01-465.14
• Foreign-money claim: means a claim upon an obligation to pay, or a claim for recovery of a loss, expressed in or measured by a foreign money. See Virginia Code 8.01-465.14
• Grain: means corn (maize), wheat, rye, oats, barley, flaxseed, soybeans, and such other grains as the usages of the trade may warrant and permit. See Virginia Code 3.2-4322
• Handler: means a person who buys grain for resale as grain or grain products. See Virginia Code 3.2-4322
• Lien: A claim against real or personal property in satisfaction of a debt.
• Money: means a medium of exchange for the payment of obligations or a store of value authorized or adopted by a government or by intergovernmental agreement. See Virginia Code 8.01-465.14
• Money of the claim: means the money determined as proper pursuant to § 8. See Virginia Code 8.01-465.14
• 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 an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, joint venture, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity. See Virginia Code 8.01-465.14
• Person: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
• Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
• Public body: means the same as that term is defined in § 2. See Virginia Code 2.2-4379
• Rate of exchange: means the rate at which money of one country may be converted into money of another country in a free financial market convenient to or reasonably usable by a person obligated to pay or to state a rate of conversion. See Virginia Code 8.01-465.14
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Spot rate: means the rate of exchange at which foreign money is sold by a bank or other dealer in foreign exchange for immediate or next day availability or for settlement by immediate payment in cash or equivalent, by charge to an account, or by an agreed delayed settlement not exceeding two days. See Virginia Code 8.01-465.14
• State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a territory or insular possession subject to the jurisdiction of the United States. See Virginia Code 8.01-465.14
• State public body: means any authority, board, department, instrumentality, agency, or other unit of state government. See Virginia Code 2.2-4379
• Venue: The geographical location in which a case is tried.