CFR > Title 12 > Chapter XII > Subchapter D > Part 1277 > Subpart A – Definitions
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§ 1277.1 | Definitions |
Terms Used In CFR > Title 12 > Chapter XII > Subchapter D > Part 1277 > Subpart A - Definitions
- 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.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.