wex definitions

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See: Uniform Resource Locator

[Last updated in August of 2021 by the Wex Definitions Team]

Under Article 2 of the Uniform Commercial Code usage of trade is often used to aid in interpreting contracts and to give terms particular meanings. A usage of trade is a practice or method of dealing having such regularity of observance in a...

use

Use means to put into practice or to employ something. In a legal context, the most common meaning of the term “use,” is the right to enjoy the benefits of real estate or personal property (but primarily used in reference to real estate),...

use tax

Use tax arises when a person or business buys any product or service outside of their home state that did not have sales tax applied. Generally, most purchases have sales taxes which are collected by sellers, but individuals and businesses...

useful life

Useful life means the estimated length of time (in months or years) that depreciable property will be expected to be in use for and generate income when used in a trade, business, or income-producing activity.

[Last updated...

usefulness

Usefulness (officially referred to as utility) is the second of five requirements for patentability. Usefulness simply requires that the invention be “useful” for almost anything now. Applicants often can easily meet this goal by writing some...

USERRA (The Uniformed Services Employment and Reemployment Rights Act)

The Uniformed Services Employment and Reemployment Rights Act (USERRA) protects active and reserve military members from discrimination by their employers for their military particpation and requires employers to rehire some employees who...

USPTO

The US Patent and Trademarks Office (USPTO) is a federal agency that grants patents for the protection of inventions and registers trademarks for products and services.

The USPTO is headed by the Under Secretary of Commerce...

usufruct

Usufruct is the right to use and benefit from a property, while the ownership of which belongs to another person. The person who enjoys the usufruct is called the usufructuary. The usufructuary shall maintain the property as a responsible...

usurious

Usurious is an adjective that means practicing, constituting, or amounting to usury; charging an illegally high interest rate on a loan.