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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>76155</law_id><section_number>59.1-501.2</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>59.1-198</reference><reference>6.2-1819</reference><reference>6.2-2218</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="59.1">Trade and Commerce</unit><unit label="chapter" level="2" order_by="1" identifier="43">Uniform Computer Information Transactions Act</unit><unit label="article" level="3" order_by="1" identifier="1">General Provisions</unit></structure><text>
						<section id="a"><p><span class="prefix-number">a.</span> As used in this chapter: <a id="paragraph-273352" class="section-permalink" href="https://vacode.org/59.1-501.2/#a"><i class="fa fa-link"/></a></p></section>
						<section id="a1" class="indent-1"><p><span class="prefix-number">1.</span> &#x201C;<span class="dictionary">Access contract</span>&#x201D; means a contract to obtain by <span class="dictionary">electronic</span> means access to, or information from, an <span class="dictionary">information processing system</span> of another <span class="dictionary">person</span>, or the equivalent of such access. <a id="paragraph-273353" class="section-permalink" href="https://vacode.org/59.1-501.2/#a1"><i class="fa fa-link"/></a></p></section>
						<section id="a2" class="indent-1"><p><span class="prefix-number">2.</span> &#x201C;<span class="dictionary">Access material</span>&#x201D; means any information or material, such as a document, address, or access code, that is necessary to obtain authorized access to information or control or <span class="dictionary">possession</span> of a <span class="dictionary">copy</span>. <a id="paragraph-273354" class="section-permalink" href="https://vacode.org/59.1-501.2/#a2"><i class="fa fa-link"/></a></p></section>
						<section id="a3" class="indent-1"><p><span class="prefix-number">3.</span> &#x201C;<span class="dictionary">Aggrieved party</span>&#x201D; means a party entitled to a remedy for breach of contract. <a id="paragraph-273355" class="section-permalink" href="https://vacode.org/59.1-501.2/#a3"><i class="fa fa-link"/></a></p></section>
						<section id="a4" class="indent-1"><p><span class="prefix-number">4.</span> &#x201C;<span class="dictionary">Agreement</span>&#x201D; means the bargain of the parties in <span class="dictionary">fact</span> as found in their language or by implication from other circumstances, including <span class="dictionary">course of performance</span>, <span class="dictionary">course of dealing</span>, and <span class="dictionary">usage of trade</span> as provided in this chapter. <a id="paragraph-273356" class="section-permalink" href="https://vacode.org/59.1-501.2/#a4"><i class="fa fa-link"/></a></p></section>
						<section id="a5" class="indent-1"><p><span class="prefix-number">5.</span> &#x201C;<span class="dictionary">Attribution procedure</span>&#x201D; means a procedure to verify that an <span class="dictionary">electronic</span> authentication, display, message, <span class="dictionary">record</span>, or performance is that of a particular <span class="dictionary">person</span> or to detect changes or errors in information. The term includes a procedure that requires the use of algorithms or other codes, identifying words or numbers, encryption, or callback or other acknowledgment. <a id="paragraph-273357" class="section-permalink" href="https://vacode.org/59.1-501.2/#a5"><i class="fa fa-link"/></a></p></section>
						<section id="a6" class="indent-1"><p><span class="prefix-number">6.</span> &#x201C;<span class="dictionary">Authenticate</span>&#x201D; means (i) to sign or (ii) with the <span class="dictionary">intent</span> to sign a <span class="dictionary">record</span>, to execute or adopt an <span class="dictionary">electronic</span> symbol, sound, message, or process referring to, attached to, included in, or logically associated or linked with, that <span class="dictionary">record</span>. <a id="paragraph-273358" class="section-permalink" href="https://vacode.org/59.1-501.2/#a6"><i class="fa fa-link"/></a></p></section>
						<section id="a7" class="indent-1"><p><span class="prefix-number">7.</span> &#x201C;<span class="dictionary">Automated transaction</span>&#x201D; means a transaction in which a contract is formed in whole or part by <span class="dictionary">electronic</span> actions of one or both parties that are not previously reviewed by an individual in the ordinary course. <a id="paragraph-273359" class="section-permalink" href="https://vacode.org/59.1-501.2/#a7"><i class="fa fa-link"/></a></p></section>
						<section id="a8" class="indent-1"><p><span class="prefix-number">8.</span> &#x201C;<span class="dictionary">Cancellation</span>&#x201D; means the ending of a contract by a party because of breach of contract by another party. <a id="paragraph-273360" class="section-permalink" href="https://vacode.org/59.1-501.2/#a8"><i class="fa fa-link"/></a></p></section>
						<section id="a9" class="indent-1"><p><span class="prefix-number">9.</span> &#x201C;<span class="dictionary">Computer</span>&#x201D; means an <span class="dictionary">electronic</span> device that accepts information in digital or similar form and manipulates it for a result based on a sequence of instructions. <a id="paragraph-273361" class="section-permalink" href="https://vacode.org/59.1-501.2/#a9"><i class="fa fa-link"/></a></p></section>
						<section id="a10" class="indent-1"><p><span class="prefix-number">10.</span> &#x201C;<span class="dictionary">Computer information</span>&#x201D; means information in <span class="dictionary">electronic</span> form that is obtained from or through the use of a computer or that is in a form capable of being processed by a computer. The term includes a <span class="dictionary">copy</span> of the information and any documentation or packaging associated with the <span class="dictionary">copy</span>. <a id="paragraph-273362" class="section-permalink" href="https://vacode.org/59.1-501.2/#a10"><i class="fa fa-link"/></a></p></section>
						<section id="a11" class="indent-1"><p><span class="prefix-number">11.</span> &#x201C;<span class="dictionary">Computer information transaction</span>&#x201D; means an <span class="dictionary">agreement</span> or the performance of it to create, modify, transfer, or <span class="dictionary">license</span> computer information or informational rights in computer information. The term includes a support contract under &#xA7; <a class="law" title="Correction and support contracts" href="/59.1-506.12/">59.1-506.12</a>. The term does not include a transaction merely because the parties&#x2019; <span class="dictionary">agreement</span> provides that their communications about the transaction will be in the form of computer information. <a id="paragraph-273363" class="section-permalink" href="https://vacode.org/59.1-501.2/#a11"><i class="fa fa-link"/></a></p></section>
						<section id="a12" class="indent-1"><p><span class="prefix-number">12.</span> &#x201C;<span class="dictionary">Computer program</span>&#x201D; means a set of statements or instructions to be used directly or indirectly in a computer to bring about a certain result. The term does not include separately identifiable <span class="dictionary">informational content</span>. <a id="paragraph-273364" class="section-permalink" href="https://vacode.org/59.1-501.2/#a12"><i class="fa fa-link"/></a></p></section>
						<section id="a13" class="indent-1"><p><span class="prefix-number">13.</span> &#x201C;<span class="dictionary">Consequential damages</span>&#x201D; resulting from breach of contract includes (i) any loss resulting from general or particular requirements and needs of which the breaching party at the time of contracting had reason to know and which could not reasonably be prevented, and (ii) any injury to an individual or damage to property other than the subject matter of the transaction proximately resulting from breach of warranty. The term does not include <span class="dictionary">direct damages</span> or incidental damages. <a id="paragraph-273365" class="section-permalink" href="https://vacode.org/59.1-501.2/#a13"><i class="fa fa-link"/></a></p></section>
						<section id="a14" class="indent-1"><p><span class="prefix-number">14.</span> &#x201C;Conspicuous,&#x201D; with reference to a term, means so written, displayed, or presented that a reasonable <span class="dictionary">person</span> against which it is to operate ought to have noticed it. A term in an electronic <span class="dictionary">record</span> intended to evoke a response by an <span class="dictionary">electronic agent</span> is conspicuous if it is presented in a form that would enable a reasonably configured <span class="dictionary">electronic agent</span> to take it into account or react to it without review of the <span class="dictionary">record</span> by an individual. With respect to a <span class="dictionary">person</span>, conspicuous terms include (i) a heading in capitals in a size equal to or greater than, or in contrasting type, font, or color to, the surrounding text, (ii) language in the body of a <span class="dictionary">record</span> or display in larger or other contrasting type, font, or color or set off from the surrounding text by symbols or other marks that draw attention to the language, and (iii) a term prominently referenced in an electronic <span class="dictionary">record</span> or display which is readily accessible or reviewable from the <span class="dictionary">record</span> or display. With respect to a <span class="dictionary">person</span> or an <span class="dictionary">electronic agent</span>, conspicuous terms include a term, or reference to a term, that is so placed in a <span class="dictionary">record</span> or display that the <span class="dictionary">person</span> or <span class="dictionary">electronic agent</span> cannot proceed without taking action with respect to the particular term or reference. <a id="paragraph-273366" class="section-permalink" href="https://vacode.org/59.1-501.2/#a14"><i class="fa fa-link"/></a></p></section>
						<section id="a15" class="indent-1"><p><span class="prefix-number">15.</span> &#x201C;<span class="dictionary">Consumer</span>&#x201D; means an individual who is a <span class="dictionary">licensee</span> of information or informational rights that the individual at the time of contracting intended to be used primarily for personal, family, or household purposes. The term does not include an individual who is a <span class="dictionary">licensee</span> primarily for professional or commercial purposes, including agriculture, business management, and investment management other than management of the individual&#x2019;s personal or family investments. <a id="paragraph-273367" class="section-permalink" href="https://vacode.org/59.1-501.2/#a15"><i class="fa fa-link"/></a></p></section>
						<section id="a16" class="indent-1"><p><span class="prefix-number">16.</span> &#x201C;<span class="dictionary">Consumer contract</span>&#x201D; means a contract between a <span class="dictionary">merchant</span> <span class="dictionary">licensor</span> and a consumer. <a id="paragraph-273368" class="section-permalink" href="https://vacode.org/59.1-501.2/#a16"><i class="fa fa-link"/></a></p></section>
						<section id="a17" class="indent-1"><p><span class="prefix-number">17.</span> &#x201C;Contract&#x201D; means the total legal obligation resulting from the parties&#x2019; <span class="dictionary">agreement</span> as affected by this chapter and other applicable <span class="dictionary">law</span>. <a id="paragraph-273369" class="section-permalink" href="https://vacode.org/59.1-501.2/#a17"><i class="fa fa-link"/></a></p></section>
						<section id="a18" class="indent-1"><p><span class="prefix-number">18.</span> &#x201C;<span class="dictionary">Contract fee</span>&#x201D; means the price, fee, rent, or royalty payable in a contract under this chapter or any part of the amount payable. <a id="paragraph-273370" class="section-permalink" href="https://vacode.org/59.1-501.2/#a18"><i class="fa fa-link"/></a></p></section>
						<section id="a19" class="indent-1"><p><span class="prefix-number">19.</span> &#x201C;<span class="dictionary">Contractual use term</span>&#x201D; means an enforceable term that defines or limits the use, disclosure of, or access to licensed information or informational rights, including a term that defines the scope of a <span class="dictionary">license</span>. <a id="paragraph-273371" class="section-permalink" href="https://vacode.org/59.1-501.2/#a19"><i class="fa fa-link"/></a></p></section>
						<section id="a20" class="indent-1"><p><span class="prefix-number">20.</span> &#x201C;<span class="dictionary">Copy</span>&#x201D; means the medium on which information is fixed on a temporary or permanent basis and from which it can be perceived, reproduced, used, or communicated, either directly or with the aid of a machine or device. <a id="paragraph-273372" class="section-permalink" href="https://vacode.org/59.1-501.2/#a20"><i class="fa fa-link"/></a></p></section>
						<section id="a21" class="indent-1"><p><span class="prefix-number">21.</span> &#x201C;<span class="dictionary">Course of dealing</span>&#x201D; means a sequence of previous conduct between the parties to a particular transaction which establishes a common basis of understanding for interpreting their expressions and other conduct. <a id="paragraph-273373" class="section-permalink" href="https://vacode.org/59.1-501.2/#a21"><i class="fa fa-link"/></a></p></section>
						<section id="a22" class="indent-1"><p><span class="prefix-number">22.</span> &#x201C;<span class="dictionary">Course of performance</span>&#x201D; means repeated performances, under a contract that involves repeated occasions for performance, which are accepted or acquiesced in without objection by a party having knowledge of the nature of the performance and an opportunity to <span class="dictionary">object</span> to it. <a id="paragraph-273374" class="section-permalink" href="https://vacode.org/59.1-501.2/#a22"><i class="fa fa-link"/></a></p></section>
						<section id="a23" class="indent-1"><p><span class="prefix-number">23.</span> &#x201C;<span class="dictionary">Court</span>&#x201D; includes an arbitration or other dispute-resolution forum if the parties have agreed to use of that forum or its use is required by <span class="dictionary">law</span>. <a id="paragraph-273375" class="section-permalink" href="https://vacode.org/59.1-501.2/#a23"><i class="fa fa-link"/></a></p></section>
						<section id="a24" class="indent-1"><p><span class="prefix-number">24.</span> &#x201C;Delivery,&#x201D; with respect to a <span class="dictionary">copy</span>, means the voluntary physical or electronic transfer of <span class="dictionary">possession</span> or control. <a id="paragraph-273376" class="section-permalink" href="https://vacode.org/59.1-501.2/#a24"><i class="fa fa-link"/></a></p></section>
						<section id="a25" class="indent-1"><p><span class="prefix-number">25.</span> &#x201C;<span class="dictionary">Direct damages</span>&#x201D; means compensation for losses measured by &#xA7; <a class="law" title="Licensor's damages" href="/59.1-508.8/">59.1-508.8</a> (b) (1) or &#xA7; <a class="law" title="Licensee's damages" href="/59.1-508.9/">59.1-508.9</a> (a) (1). The term does not include <span class="dictionary">consequential damages</span> or incidental damages. <a id="paragraph-273377" class="section-permalink" href="https://vacode.org/59.1-501.2/#a25"><i class="fa fa-link"/></a></p></section>
						<section id="a26" class="indent-1"><p><span class="prefix-number">26.</span> &#x201C;Electronic&#x201D; means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. <a id="paragraph-273378" class="section-permalink" href="https://vacode.org/59.1-501.2/#a26"><i class="fa fa-link"/></a></p></section>
						<section id="a27" class="indent-1"><p><span class="prefix-number">27.</span> &#x201C;<span class="dictionary">Electronic agent</span>&#x201D; means a <span class="dictionary">computer program</span>, or electronic or other automated means, used independently to initiate an action, or to respond to <span class="dictionary">electronic messages</span> or performances, on the <span class="dictionary">person</span>&#x2019;s behalf without review or action by an individual at the time of the action or response to the message or performance. <a id="paragraph-273379" class="section-permalink" href="https://vacode.org/59.1-501.2/#a27"><i class="fa fa-link"/></a></p></section>
						<section id="a28" class="indent-1"><p><span class="prefix-number">28.</span> &#x201C;<span class="dictionary">Electronic message</span>&#x201D; means a <span class="dictionary">record</span> or display that is stored, generated, or transmitted by electronic means for the purpose of communication to another <span class="dictionary">person</span> or <span class="dictionary">electronic agent</span>. <a id="paragraph-273380" class="section-permalink" href="https://vacode.org/59.1-501.2/#a28"><i class="fa fa-link"/></a></p></section>
						<section id="a29" class="indent-1"><p><span class="prefix-number">29.</span> &#x201C;<span class="dictionary">Financial accommodation contract</span>&#x201D; means an <span class="dictionary">agreement</span> under which a <span class="dictionary">person</span> extends a financial accommodation to a <span class="dictionary">licensee</span> and which does not create a security interest governed by Title 8.9A. The <span class="dictionary">agreement</span> may be in any form, including a <span class="dictionary">license</span> or lease. <a id="paragraph-273381" class="section-permalink" href="https://vacode.org/59.1-501.2/#a29"><i class="fa fa-link"/></a></p></section>
						<section id="a30" class="indent-1"><p><span class="prefix-number">30.</span> &#x201C;<span class="dictionary">Financial services transaction</span>&#x201D; means an <span class="dictionary">agreement</span> that provides for, or a transaction that is, or entails access to, use, transfer, clearance, <span class="dictionary">settlement</span>, or processing of: <a id="paragraph-273382" class="section-permalink" href="https://vacode.org/59.1-501.2/#a30"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> a deposit, loan, funds, or monetary value represented in electronic form and stored or capable of storage by electronic means and retrievable and transferable by electronic means, or other right to payment to or from a <span class="dictionary">person</span>; <a id="paragraph-273383" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> an instrument or other item; <a id="paragraph-273384" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> a payment <span class="dictionary">order</span>, credit card transaction, debit card transaction, funds transfer, automated clearing house transfer, or similar wholesale or retail transfer of funds; <a id="paragraph-273385" class="section-permalink" href="https://vacode.org/59.1-501.2/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> a letter of credit, document of title, financial asset, investment property, or similar asset held in a fiduciary or agency capacity; or <a id="paragraph-273386" class="section-permalink" href="https://vacode.org/59.1-501.2/#D"><i class="fa fa-link"/></a></p></section>
						<section id="E"><p><span class="prefix-number">E.</span> related identifying, verifying, access-enabling, authorizing, or monitoring information. <a id="paragraph-273387" class="section-permalink" href="https://vacode.org/59.1-501.2/#E"><i class="fa fa-link"/></a></p></section>
						<section id="E31" class="indent-1"><p><span class="prefix-number">31.</span> &#x201C;<span class="dictionary">Financier</span>&#x201D; means a <span class="dictionary">person</span> that provides a financial accommodation to a <span class="dictionary">licensee</span> under a <span class="dictionary">financial accommodation contract</span> and either (i) becomes a <span class="dictionary">licensee</span> for the purpose of transferring or sublicensing the <span class="dictionary">license</span> to the party to which the financial accommodation is provided or (ii) obtains a contractual right under the <span class="dictionary">financial accommodation contract</span> to preclude the <span class="dictionary">licensee</span>&#x2019;s use of the information or informational rights under a <span class="dictionary">license</span> in the event of breach of the <span class="dictionary">financial accommodation contract</span>. The term does not include a <span class="dictionary">person</span> that selects, creates, or supplies the information that is the subject of the <span class="dictionary">license</span>, owns the informational rights in the information, or provides support for, modifications to, or maintenance of the information. <a id="paragraph-273388" class="section-permalink" href="https://vacode.org/59.1-501.2/#E31"><i class="fa fa-link"/></a></p></section>
						<section id="E32" class="indent-1"><p><span class="prefix-number">32.</span> &#x201C;<span class="dictionary">Good faith</span>&#x201D; means honesty in <span class="dictionary">fact</span> and the observance of reasonable commercial standards of fair dealing. <a id="paragraph-273389" class="section-permalink" href="https://vacode.org/59.1-501.2/#E32"><i class="fa fa-link"/></a></p></section>
						<section id="E33" class="indent-1"><p><span class="prefix-number">33.</span> &#x201C;<span class="dictionary">Goods</span>&#x201D; means all things that are movable at the time relevant to the <span class="dictionary">computer information transaction</span>. The term includes the unborn young of animals, growing crops, and other identified things to be severed from realty which are covered by &#xA7; <a class="law" title="Goods to be severed from realty; recording" href="/8.2-107/">8.2-107</a>. The term does not include computer information, money, the subject matter of foreign exchange transactions, documents, letters of credit, letter-of-credit rights, instruments, investment property, accounts, chattel paper, deposit accounts, or general intangibles. <a id="paragraph-273390" class="section-permalink" href="https://vacode.org/59.1-501.2/#E33"><i class="fa fa-link"/></a></p></section>
						<section id="E34" class="indent-1"><p><span class="prefix-number">34.</span> &#x201C;Incidental damages&#x201D; resulting from breach of contract: <a id="paragraph-273391" class="section-permalink" href="https://vacode.org/59.1-501.2/#E34"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> means compensation for any commercially reasonable charges, expenses, or commissions reasonably incurred by an <span class="dictionary">aggrieved party</span> with respect to (i) inspection, receipt, transmission, transportation, care, or <span class="dictionary">custody</span> of identified copies or information that is the subject of the breach; (ii) stopping delivery, shipment, or transmission; (iii) effecting cover or retransfer of copies or information after the breach; (iv) other efforts after the breach to minimize or avoid loss resulting from the breach; and (v) matters otherwise incident to the breach; and <a id="paragraph-273392" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> does not include <span class="dictionary">consequential damages</span> or <span class="dictionary">direct damages</span>. <a id="paragraph-273393" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B35" class="indent-1"><p><span class="prefix-number">35.</span> &#x201C;Information&#x201D; means data, text, images, sounds, mask works, or <span class="dictionary">computer programs</span>, including collections and compilations of them. <a id="paragraph-273394" class="section-permalink" href="https://vacode.org/59.1-501.2/#B35"><i class="fa fa-link"/></a></p></section>
						<section id="B36" class="indent-1"><p><span class="prefix-number">36.</span> &#x201C;<span class="dictionary">Information processing system</span>&#x201D; means an electronic system for creating, generating, sending, receiving, storing, displaying, or processing information. <a id="paragraph-273395" class="section-permalink" href="https://vacode.org/59.1-501.2/#B36"><i class="fa fa-link"/></a></p></section>
						<section id="B37" class="indent-1"><p><span class="prefix-number">37.</span> &#x201C;<span class="dictionary">Informational content</span>&#x201D; means information that is intended to be communicated to or perceived by an individual in the ordinary use of the information, or the equivalent of that information. <a id="paragraph-273396" class="section-permalink" href="https://vacode.org/59.1-501.2/#B37"><i class="fa fa-link"/></a></p></section>
						<section id="B38" class="indent-1"><p><span class="prefix-number">38.</span> &#x201C;Informational rights&#x201D; include all rights in information created under <span class="dictionary">laws</span> governing patents, copyrights, mask works, trade secrets, trademarks, publicity rights, or any other <span class="dictionary">law</span> that gives a <span class="dictionary">person</span>, independently of contract, a right to control or preclude another <span class="dictionary">person</span>&#x2019;s use of or access to the information on the basis of the rights holder&#x2019;s interest in the information. <a id="paragraph-273397" class="section-permalink" href="https://vacode.org/59.1-501.2/#B38"><i class="fa fa-link"/></a></p></section>
						<section id="B39" class="indent-1"><p><span class="prefix-number">39.</span> &#x201C;<span class="dictionary">Insurance services transaction</span>&#x201D; means an <span class="dictionary">agreement</span> between an insurer and an insured that provides for, or a transaction that is or entails access to, use, transfer, clearance, <span class="dictionary">settlement</span>, or processing of: <a id="paragraph-273398" class="section-permalink" href="https://vacode.org/59.1-501.2/#B39"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> an insurance policy, contract, or certificate; or <a id="paragraph-273399" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> a right to payment under an insurance policy, contract or certificate. <a id="paragraph-273400" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B40" class="indent-1"><p><span class="prefix-number">40.</span> &#x201C;Knowledge,&#x201D; with respect to a <span class="dictionary">fact</span>, means actual knowledge of the <span class="dictionary">fact</span>. <a id="paragraph-273401" class="section-permalink" href="https://vacode.org/59.1-501.2/#B40"><i class="fa fa-link"/></a></p></section>
						<section id="B41" class="indent-1"><p><span class="prefix-number">41.</span> &#x201C;<span class="dictionary">License</span>&#x201D; means a contract that authorizes access to, or use, distribution, performance, modification, or reproduction of, information or informational rights, but expressly limits the access or uses authorized or expressly grants fewer than all rights in the information, whether or not the transferee has title to a licensed <span class="dictionary">copy</span>. The term includes an <span class="dictionary">access contract</span>, a lease of a <span class="dictionary">computer program</span>, and a consignment of a <span class="dictionary">copy</span>. The term does not include a reservation or creation of a security interest to the extent the interest is governed by Title 8.9A. <a id="paragraph-273402" class="section-permalink" href="https://vacode.org/59.1-501.2/#B41"><i class="fa fa-link"/></a></p></section>
						<section id="B42" class="indent-1"><p><span class="prefix-number">42.</span> &#x201C;<span class="dictionary">Licensee</span>&#x201D; means a <span class="dictionary">person</span> entitled by <span class="dictionary">agreement</span> to acquire or exercise rights in, or to have access to or use of, computer information under an <span class="dictionary">agreement</span> to which this chapter applies. A <span class="dictionary">licensor</span> is not a <span class="dictionary">licensee</span> with respect to rights reserved to it under the <span class="dictionary">agreement</span>. <a id="paragraph-273403" class="section-permalink" href="https://vacode.org/59.1-501.2/#B42"><i class="fa fa-link"/></a></p></section>
						<section id="B43" class="indent-1"><p><span class="prefix-number">43.</span> &#x201C;<span class="dictionary">Licensor</span>&#x201D; means a <span class="dictionary">person</span> obligated by <span class="dictionary">agreement</span> to transfer or create rights in, or to give access to or use of, computer information or informational rights in it under an <span class="dictionary">agreement</span> to which this chapter applies. Between the provider of access and a provider of the <span class="dictionary">informational content</span> to be accessed, the provider of content is the <span class="dictionary">licensor</span>. In an exchange of information or informational rights, each party is a <span class="dictionary">licensor</span> with respect to the information, informational rights, or access it gives. <a id="paragraph-273404" class="section-permalink" href="https://vacode.org/59.1-501.2/#B43"><i class="fa fa-link"/></a></p></section>
						<section id="B44" class="indent-1"><p><span class="prefix-number">44.</span> &#x201C;<span class="dictionary">Mass-market license</span>&#x201D; means a <span class="dictionary">standard form</span> used in a <span class="dictionary">mass-market transaction</span>. <a id="paragraph-273405" class="section-permalink" href="https://vacode.org/59.1-501.2/#B44"><i class="fa fa-link"/></a></p></section>
						<section id="B45" class="indent-1"><p><span class="prefix-number">45.</span> &#x201C;<span class="dictionary">Mass-market transaction</span>&#x201D; means a transaction that is: <a id="paragraph-273406" class="section-permalink" href="https://vacode.org/59.1-501.2/#B45"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> a <span class="dictionary">consumer contract</span>; or <a id="paragraph-273407" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> any other transaction with an end-user <span class="dictionary">licensee</span> if: <a id="paragraph-273408" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="i"><p><span class="prefix-number">i.</span> the transaction is for information or informational rights directed to the general public as a whole, including <span class="dictionary">consumers</span>, under substantially the same terms for the same information; <a id="paragraph-273409" class="section-permalink" href="https://vacode.org/59.1-501.2/#i"><i class="fa fa-link"/></a></p></section>
						<section id="iii" class="indent-1"><p><span class="prefix-number">ii.</span> the <span class="dictionary">licensee</span> acquires the information or informational rights in a retail transaction under terms consistent with an ordinary transaction in a retail market; and <a id="paragraph-273410" class="section-permalink" href="https://vacode.org/59.1-501.2/#iii"><i class="fa fa-link"/></a></p></section>
						<section id="iiii" class="indent-1"><p><span class="prefix-number">iii.</span> the transaction is not (a) a contract for redistribution or for public performance or public display of a copyrighted work; (b) a transaction in which the information is customized or otherwise specially prepared by the <span class="dictionary">licensor</span> for the <span class="dictionary">licensee</span>, other than <span class="dictionary">minor</span> customization using a capability of the information intended for that purpose; (c) a site license; or (d) an <span class="dictionary">access contract</span>. <a id="paragraph-273411" class="section-permalink" href="https://vacode.org/59.1-501.2/#iiii"><i class="fa fa-link"/></a></p></section>
						<section id="i46" class="indent-1"><p><span class="prefix-number">46.</span> &#x201C;<span class="dictionary">Merchant</span>&#x201D; means a <span class="dictionary">person</span>: <a id="paragraph-273412" class="section-permalink" href="https://vacode.org/59.1-501.2/#i46"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> who deals in information or informational rights of the kind involved in the transaction; <a id="paragraph-273413" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> who by the <span class="dictionary">person</span>&#x2019;s occupation holds himself out as having knowledge or skill peculiar to the relevant aspect of the business practices or information involved in the transaction; or <a id="paragraph-273414" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> to whom the knowledge or skill peculiar to the practices or information involved in the transaction may be attributed by the <span class="dictionary">person</span>&#x2019;s employment of an agent or broker or other intermediary who by his occupation holds himself out as having the knowledge or skill. <a id="paragraph-273415" class="section-permalink" href="https://vacode.org/59.1-501.2/#C"><i class="fa fa-link"/></a></p></section>
						<section id="C47" class="indent-1"><p><span class="prefix-number">47.</span> &#x201C;<span class="dictionary">Nonexclusive license</span>&#x201D; means a license that does not preclude the <span class="dictionary">licensor</span> from transferring to other <span class="dictionary">licensees</span> the same information, informational rights, or contractual rights within the same scope. The term includes a consignment of a <span class="dictionary">copy</span>. <a id="paragraph-273416" class="section-permalink" href="https://vacode.org/59.1-501.2/#C47"><i class="fa fa-link"/></a></p></section>
						<section id="C48" class="indent-1"><p><span class="prefix-number">48.</span> &#x201C;<span class="dictionary">Notice</span>&#x201D; of a <span class="dictionary">fact</span> means knowledge of the <span class="dictionary">fact</span>, receipt of notification of the <span class="dictionary">fact</span>, or reason to know the <span class="dictionary">fact</span> exists. <a id="paragraph-273417" class="section-permalink" href="https://vacode.org/59.1-501.2/#C48"><i class="fa fa-link"/></a></p></section>
						<section id="C49" class="indent-1"><p><span class="prefix-number">49.</span> &#x201C;<span class="dictionary">Notify</span>&#x201D; or &#x201C;<span class="dictionary">give notice</span>&#x201D; means to take such steps as may be reasonably required to inform the other <span class="dictionary">person</span> in the ordinary course, whether or not the other <span class="dictionary">person</span> actually comes to know of it. <a id="paragraph-273418" class="section-permalink" href="https://vacode.org/59.1-501.2/#C49"><i class="fa fa-link"/></a></p></section>
						<section id="C50" class="indent-1"><p><span class="prefix-number">50.</span> &#x201C;Party&#x201D; means a <span class="dictionary">person</span> that engages in a transaction or makes an <span class="dictionary">agreement</span> under this chapter. <a id="paragraph-273419" class="section-permalink" href="https://vacode.org/59.1-501.2/#C50"><i class="fa fa-link"/></a></p></section>
						<section id="C51" class="indent-1"><p><span class="prefix-number">51.</span> &#x201C;<span class="dictionary">Person</span>&#x201D; means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, governmental subdivision, instrumentality, or agency, public corporation, or any other legal or commercial entity. <a id="paragraph-273420" class="section-permalink" href="https://vacode.org/59.1-501.2/#C51"><i class="fa fa-link"/></a></p></section>
						<section id="C52" class="indent-1"><p><span class="prefix-number">52.</span> &#x201C;<span class="dictionary">Published informational content</span>&#x201D; means informational content prepared for or made available to recipients generally, or to a class of recipients, in substantially the same form. The term does not include informational content that is (i) customized for a particular recipient by one or more individuals acting as or on behalf of the <span class="dictionary">licensor</span>, using <span class="dictionary">judgment</span> or expertise or (ii) provided in a special relationship of reliance between the provider and the recipient. <a id="paragraph-273421" class="section-permalink" href="https://vacode.org/59.1-501.2/#C52"><i class="fa fa-link"/></a></p></section>
						<section id="C53" class="indent-1"><p><span class="prefix-number">53.</span> &#x201C;Receipt&#x201D; means: <a id="paragraph-273422" class="section-permalink" href="https://vacode.org/59.1-501.2/#C53"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> with respect to a <span class="dictionary">copy</span>, taking delivery; or <a id="paragraph-273423" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> with respect to a notice: <a id="paragraph-273424" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="i"><p><span class="prefix-number">i.</span> coming to a <span class="dictionary">person</span>&#x2019;s attention; or <a id="paragraph-273425" class="section-permalink" href="https://vacode.org/59.1-501.2/#i"><i class="fa fa-link"/></a></p></section>
						<section id="iii" class="indent-1"><p><span class="prefix-number">ii.</span> being delivered to and available at a location or system designated by <span class="dictionary">agreement</span> for that purpose or, in the absence of an agreed location or system: (a) being delivered at the <span class="dictionary">person</span>&#x2019;s residence, or the <span class="dictionary">person</span>&#x2019;s place of business through which the contract was made, or at any other place held out by the <span class="dictionary">person</span> as a place for receipt of communications of the kind; or (b) in the case of an electronic notice, coming into existence in an <span class="dictionary">information processing system</span> or at an address in that system in a form capable of being processed by or perceived from a system of that type by a recipient, if the recipient uses, or otherwise has designated or holds out, that place or system for receipt of <span class="dictionary">notices</span> of the kind to be given and the sender does not know that the notice cannot be accessed from that place. <a id="paragraph-273426" class="section-permalink" href="https://vacode.org/59.1-501.2/#iii"><i class="fa fa-link"/></a></p></section>
						<section id="i54" class="indent-1"><p><span class="prefix-number">54.</span> &#x201C;<span class="dictionary">Receive</span>&#x201D; means to take receipt. <a id="paragraph-273427" class="section-permalink" href="https://vacode.org/59.1-501.2/#i54"><i class="fa fa-link"/></a></p></section>
						<section id="i55" class="indent-1"><p><span class="prefix-number">55.</span> &#x201C;<span class="dictionary">Record</span>&#x201D; means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. <a id="paragraph-273428" class="section-permalink" href="https://vacode.org/59.1-501.2/#i55"><i class="fa fa-link"/></a></p></section>
						<section id="i56" class="indent-1"><p><span class="prefix-number">56.</span> &#x201C;<span class="dictionary">Release</span>&#x201D; means an <span class="dictionary">agreement</span> by a party not to <span class="dictionary">object</span> to, or exercise any rights or pursue any remedies to limit, the use of information or informational rights which <span class="dictionary">agreement</span> does not require an affirmative act by the party to enable or support the other party&#x2019;s use of the information or informational rights. The term includes a <span class="dictionary">waiver</span> of informational rights. <a id="paragraph-273429" class="section-permalink" href="https://vacode.org/59.1-501.2/#i56"><i class="fa fa-link"/></a></p></section>
						<section id="i57" class="indent-1"><p><span class="prefix-number">57.</span> &#x201C;Return,&#x201D; with respect to a <span class="dictionary">record</span> containing contractual terms that were rejected, refers only to the computer information and means: <a id="paragraph-273430" class="section-permalink" href="https://vacode.org/59.1-501.2/#i57"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> in the case of a <span class="dictionary">licensee</span> that rejects a <span class="dictionary">record</span> regarding a single information product transferred for a single <span class="dictionary">contract fee</span>, a right to reimbursement of the <span class="dictionary">contract fee</span> paid from the <span class="dictionary">person</span> to which it was paid or from another <span class="dictionary">person</span> that offers to reimburse that fee, on (i) submission of proof of purchase and (ii) proper redelivery of the computer information and all copies within a reasonable time after initial delivery of the information to the <span class="dictionary">licensee</span>; <a id="paragraph-273431" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> in the case of a <span class="dictionary">licensee</span> that rejects a <span class="dictionary">record</span> regarding an information product provided as part of multiple information products integrated into and transferred as a bundled whole but retaining their separate identity: <a id="paragraph-273432" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B1" class="indent-1"><p><span class="prefix-number">1.</span> a right to reimbursement of any portion of the aggregate <span class="dictionary">contract fee</span> identified by the <span class="dictionary">licensor</span> in the initial transaction as charged to the <span class="dictionary">licensee</span> for all bundled information products which was actually paid, on (i) rejection of the <span class="dictionary">record</span> before or during the initial use of the bundled product; (ii) proper redelivery of all computer information products in the bundled whole and all copies of them within a reasonable time after initial delivery of the information to the <span class="dictionary">licensee</span>; and (iii) submission of proof of purchase; or <a id="paragraph-273433" class="section-permalink" href="https://vacode.org/59.1-501.2/#B1"><i class="fa fa-link"/></a></p></section>
						<section id="B2" class="indent-1"><p><span class="prefix-number">2.</span> a right to reimbursement of any separate <span class="dictionary">contract fee</span> identified by the <span class="dictionary">licensor</span> in the initial transaction as charged to the <span class="dictionary">licensee</span> for the separate information product to which the rejected <span class="dictionary">record</span> applies, on (i) submission of proof of purchase and (ii) proper redelivery of that computer information product and all copies within a reasonable time after initial delivery of the information to the <span class="dictionary">licensee</span>; or <a id="paragraph-273434" class="section-permalink" href="https://vacode.org/59.1-501.2/#B2"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> in the case of a <span class="dictionary">licensor</span> that rejects a <span class="dictionary">record</span> proposed by the <span class="dictionary">licensee</span>, a right to proper redelivery of the computer information and all copies from the <span class="dictionary">licensee</span>, to stop delivery or access to the information by the <span class="dictionary">licensee</span>, and to reimbursement from the <span class="dictionary">licensee</span> of amounts paid by the <span class="dictionary">licensor</span> with respect to the rejected <span class="dictionary">record</span>, on reimbursement to the <span class="dictionary">licensee</span> of <span class="dictionary">contract fees</span> that it paid with respect to the rejected <span class="dictionary">record</span>, subject to recoupment and setoff. <a id="paragraph-273435" class="section-permalink" href="https://vacode.org/59.1-501.2/#C"><i class="fa fa-link"/></a></p></section>
						<section id="C58" class="indent-1"><p><span class="prefix-number">58.</span> &#x201C;Scope,&#x201D; with respect to terms of a license, means: <a id="paragraph-273436" class="section-permalink" href="https://vacode.org/59.1-501.2/#C58"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> the licensed copies, information, or informational rights involved; <a id="paragraph-273437" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> the use or access authorized, prohibited, or controlled; <a id="paragraph-273438" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> the geographic area, market, or location; or <a id="paragraph-273439" class="section-permalink" href="https://vacode.org/59.1-501.2/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> the duration of the license. <a id="paragraph-273440" class="section-permalink" href="https://vacode.org/59.1-501.2/#D"><i class="fa fa-link"/></a></p></section>
						<section id="D59" class="indent-1"><p><span class="prefix-number">59.</span> &#x201C;Seasonable,&#x201D; with respect to an act, means taken within the time agreed or, if no time is agreed, within a reasonable time. <a id="paragraph-273441" class="section-permalink" href="https://vacode.org/59.1-501.2/#D59"><i class="fa fa-link"/></a></p></section>
						<section id="D60" class="indent-1"><p><span class="prefix-number">60.</span> &#x201C;Send&#x201D; means, with any costs provided for and properly addressed or directed as reasonable under the circumstances or as otherwise agreed, to deposit a <span class="dictionary">record</span> in the mail or with a commercially reasonable carrier, to deliver a <span class="dictionary">record</span> for transmission to or re-creation in another location or <span class="dictionary">information processing system</span>, or to take the steps necessary to initiate transmission to or re-creation of a <span class="dictionary">record</span> in another location or <span class="dictionary">information processing system</span>. In addition, with respect to an <span class="dictionary">electronic message</span>, the message must be in a form capable of being processed by or perceived from a system of the type the recipient uses or otherwise has designated or held out as a place for the receipt of communications of the kind sent. Receipt within the time in which it would have arrived if properly sent, has the effect of a proper sending. <a id="paragraph-273442" class="section-permalink" href="https://vacode.org/59.1-501.2/#D60"><i class="fa fa-link"/></a></p></section>
						<section id="D61" class="indent-1"><p><span class="prefix-number">61.</span> &#x201C;<span class="dictionary">Standard form</span>&#x201D; means a <span class="dictionary">record</span> or a group of related <span class="dictionary">records</span> containing terms prepared for repeated use in transactions and so used in a transaction in which there was no negotiated change of terms by individuals except to set the price, quantity, method of payment, selection among standard options, or time or method of delivery. <a id="paragraph-273443" class="section-permalink" href="https://vacode.org/59.1-501.2/#D61"><i class="fa fa-link"/></a></p></section>
						<section id="D62" class="indent-1"><p><span class="prefix-number">62.</span> &#x201C;<span class="dictionary">State</span>&#x201D; means a <span class="dictionary">State</span> of the United <span class="dictionary">States</span>, the District of Columbia, Puerto Rico, the United <span class="dictionary">States</span> Virgin Islands, or any territory or insular <span class="dictionary">possession</span> subject to the <span class="dictionary">jurisdiction</span> of the United <span class="dictionary">States</span>. <a id="paragraph-273444" class="section-permalink" href="https://vacode.org/59.1-501.2/#D62"><i class="fa fa-link"/></a></p></section>
						<section id="D63" class="indent-1"><p><span class="prefix-number">63.</span> &#x201C;Term,&#x201D; with respect to an <span class="dictionary">agreement</span>, means that portion of the <span class="dictionary">agreement</span> that relates to a particular matter. <a id="paragraph-273445" class="section-permalink" href="https://vacode.org/59.1-501.2/#D63"><i class="fa fa-link"/></a></p></section>
						<section id="D64" class="indent-1"><p><span class="prefix-number">64.</span> &#x201C;<span class="dictionary">Termination</span>&#x201D; means the ending of a contract by a party pursuant to a power created by <span class="dictionary">agreement</span> or <span class="dictionary">law</span> otherwise than because of breach of contract. <a id="paragraph-273446" class="section-permalink" href="https://vacode.org/59.1-501.2/#D64"><i class="fa fa-link"/></a></p></section>
						<section id="D65" class="indent-1"><p><span class="prefix-number">65.</span> &#x201C;Transfer&#x201D;: <a id="paragraph-273447" class="section-permalink" href="https://vacode.org/59.1-501.2/#D65"><i class="fa fa-link"/></a></p></section>
						<section id="A"><p><span class="prefix-number">A.</span> with respect to a contractual interest, includes an assignment of the contract, but does not include an <span class="dictionary">agreement</span> merely to perform a contractual obligation or to exercise contractual rights through a delegate or sublicensee; and <a id="paragraph-273448" class="section-permalink" href="https://vacode.org/59.1-501.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> with respect to computer information, includes a sale, license, or lease of a <span class="dictionary">copy</span> of the computer information and a license or assignment of informational rights in computer information. <a id="paragraph-273449" class="section-permalink" href="https://vacode.org/59.1-501.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B66" class="indent-1"><p><span class="prefix-number">66.</span> &#x201C;<span class="dictionary">Usage of trade</span>&#x201D; means any practice or method of dealing that has such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question. <a id="paragraph-273450" class="section-permalink" href="https://vacode.org/59.1-501.2/#B66"><i class="fa fa-link"/></a></p></section>
						<section id="b"><p><span class="prefix-number">b.</span> The following definitions in other titles apply to this chapter: <a id="paragraph-273451" class="section-permalink" href="https://vacode.org/59.1-501.2/#b"><i class="fa fa-link"/></a></p></section>
						<section id="b1" class="indent-1"><p><span class="prefix-number">1.</span> &#x201C;Burden of establishing&#x201D; &#xA7; <a class="law" title="General definitions" href="/8.1A-201/">8.1A-201</a>. <a id="paragraph-273452" class="section-permalink" href="https://vacode.org/59.1-501.2/#b1"><i class="fa fa-link"/></a></p></section>
						<section id="b2" class="indent-1"><p><span class="prefix-number">2.</span> &#x201C;Document of title&#x201D; &#xA7; <a class="law" title="General definitions" href="/8.1A-201/">8.1A-201</a>. <a id="paragraph-273453" class="section-permalink" href="https://vacode.org/59.1-501.2/#b2"><i class="fa fa-link"/></a></p></section>
						<section id="b3" class="indent-1"><p><span class="prefix-number">3.</span> &#x201C;Financial asset&#x201D; &#xA7; <a class="law" title="Definitions" href="/8.8A-102/">8.8A-102</a>. <a id="paragraph-273454" class="section-permalink" href="https://vacode.org/59.1-501.2/#b3"><i class="fa fa-link"/></a></p></section>
						<section id="b4" class="indent-1"><p><span class="prefix-number">4.</span> &#x201C;Funds transfer&#x201D; &#xA7; <a class="law" title="Definitions: &quot;Funds transfer&quot;; &quot;Intermediary bank&quot;; &quot;Originator&quot;; &quot;Originator's bank.&quot;" href="/8.4A-104/">8.4A-104</a>. <a id="paragraph-273455" class="section-permalink" href="https://vacode.org/59.1-501.2/#b4"><i class="fa fa-link"/></a></p></section>
						<section id="b5" class="indent-1"><p><span class="prefix-number">5.</span> &#x201C;Identification&#x201D; to the contract &#xA7; <a class="law" title="Insurable interest in goods; manner of identification of goods" href="/8.2-501/">8.2-501</a>. <a id="paragraph-273456" class="section-permalink" href="https://vacode.org/59.1-501.2/#b5"><i class="fa fa-link"/></a></p></section>
						<section id="b6" class="indent-1"><p><span class="prefix-number">6.</span> &#x201C;Instrument&#x201D; &#xA7; <a class="law" title="Definitions and index of definitions" href="/8.9A-102/">8.9A-102</a>. <a id="paragraph-273457" class="section-permalink" href="https://vacode.org/59.1-501.2/#b6"><i class="fa fa-link"/></a></p></section>
						<section id="b7" class="indent-1"><p><span class="prefix-number">7.</span> &#x201C;Investment property&#x201D; &#xA7; <a class="law" title="Definitions and index of definitions" href="/8.9A-102/">8.9A-102</a>. <a id="paragraph-273458" class="section-permalink" href="https://vacode.org/59.1-501.2/#b7"><i class="fa fa-link"/></a></p></section>
						<section id="b8" class="indent-1"><p><span class="prefix-number">8.</span> &#x201C;Item&#x201D; &#xA7; <a class="law" title="Definitions and index of definitions" href="/8.4-104/">8.4-104</a>. <a id="paragraph-273459" class="section-permalink" href="https://vacode.org/59.1-501.2/#b8"><i class="fa fa-link"/></a></p></section>
						<section id="b9" class="indent-1"><p><span class="prefix-number">9.</span> &#x201C;Letter of credit&#x201D; &#xA7; <a class="law" title="Definitions" href="/8.5A-102/">8.5A-102</a>. <a id="paragraph-273460" class="section-permalink" href="https://vacode.org/59.1-501.2/#b9"><i class="fa fa-link"/></a></p></section>
						<section id="b10" class="indent-1"><p><span class="prefix-number">10.</span> &#x201C;Payment <span class="dictionary">order</span>&#x201D; &#xA7; <a class="law" title="Definitions: &quot;Payment order&quot;; &quot;Beneficiary&quot;; &quot;Beneficiary's bank&quot;; &quot;Receiving bank&quot;; &quot;Sender.&quot;" href="/8.4A-103/">8.4A-103</a>. <a id="paragraph-273461" class="section-permalink" href="https://vacode.org/59.1-501.2/#b10"><i class="fa fa-link"/></a></p></section>
						<section id="b11" class="indent-1"><p><span class="prefix-number">11.</span> &#x201C;Sale&#x201D; &#xA7; <a class="law" title="Definitions: &quot;Contract&quot;; &quot;agreement&quot;; &quot;contract for sale&quot;; &quot;sale&quot;; &quot;present sale&quot;; &quot;conforming&quot; to contract; &quot;termination&quot;; &quot;cancellation&quot;; &quot;hybrid transaction.&quot;" href="/8.2-106/">8.2-106</a>. <a id="paragraph-273462" class="section-permalink" href="https://vacode.org/59.1-501.2/#b11"><i class="fa fa-link"/></a></p></section></text><history>2000, cc. 101, 996; 2001, c. 763; 2003, c. 353; 2004, c. 794.</history><metadata></metadata></law>
