Terms Used In CFR > Title 12 > Chapter XII > Subchapter B > Part 1237 > Subpart B - Claims

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Contract: A legal written agreement that becomes binding when signed.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Manufacturer of tobacco products: includes any person who for commercial purposes makes available for consumer use (including such consumer's personal consumption or use under paragraph (1)(i) of this definition) a machine capable of making cigarettes, cigars, or other tobacco products. See 27 CFR 41.11
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• removed: means removal from the factory, release from internal revenue bond under 26 U. See 27 CFR 41.11
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.