New Jersey Statutes 48:12-22. Purchasing or hiring vessels, wharves and landings
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Terms Used In New Jersey Statutes 48:12-22
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Any railroad company, whenever a majority of the directors thereof shall so decide, may purchase or hire any vessels or barges and any wharves, piers, docks, landings and buildings situated at or near any terminus of its road, capable of being of use in the transportation of freight or passengers, and any company is authorized to make such sale or lease whenever a majority of the directors shall so decide.