§ 780 — Definitions

§ 780. Definitions. When used in this article, the following terms,\nunless the context requires otherwise, shall have the following\nmeanings.\n 1. "Vendee" means any individual or individuals who have contracted\nwith a vendor for construction of a home on land not owned at the time\nof such agreement by such individual or individuals.\n 2. "Vendor" means any person, firm, corporation, or association\nengaged in the business of erecting or constructing homes.\n 3. "Home" means a new one or two family dwelling intended to be used\nprimarily as a residence.\n 4. "Municipality" means any town, village or city.\n 5. "Default" occurs where title to the home is not transferred to the\nvendee because of the failure of the vendor to substantially perform\nthose provisions of the agreement between the vendor and vendee wherein\nvendor undertook to build or construct a home for the vendee, or where\nthe vendor becomes insolvent.\n 6. "Deposit" means any moneys given as down payment by the vendee to\nthe vendor as required by the vendor prior to the commencement of the\nwork to be performed pursuant to an agreement between the vendor and\nvendee wherein vendor undertook to build or construct a home for the\nvendee.\n 7. "Demand" means communication of an actual notice to the vendor of\nrequests made therein.\n