Utility
/ˈjuː.tɪ.lɪ.ti/
Definitions
- (n.) The state or quality of being useful, providing satisfaction or benefit, especially in economic or legal contexts regarding value or advantage.
The contract was evaluated based on its utility to the client.
- (n.) A public service or company that supplies essential services like water, electricity, or gas regulated by law.
The utility company must adhere to government regulations to ensure fair pricing.
Commentary
In legal contexts, 'utility' may refer both to economic value influencing contractual considerations and to regulated public service entities; awareness of context is key when drafting or interpreting provisions.