CFR > Title 20 > Chapter IX > Part 1001 > Subpart G – Purpose and Definitions
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Terms Used In CFR > Title 20 > Chapter IX > Part 1001 > Subpart G - Purpose and Definitions
- 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.
- Personal property: All property that is not real property.
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.