term:

Utility

utility n

pl: -ties
1 : fitness for some purpose or worth to some end
2 a : public utility
b : a service or commodity provided by a public utility [paid for rent and utilities]
;also
: equipment or material used in providing such a service or commodity [an easement limited to purposes of travel which does not include the right to install utilities "Ware v. Public Serv. Co., 412 A.2d 84 (1980)"]
3
pl

: stocks or bonds of utility companies [utilities performed poorly]

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.