Terms Used In 33 CFR Part 40 - Cadets of the Coast Guard

• Contract: A legal written agreement that becomes binding when signed.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.