Terms Used In CFR > Title 27 > Chapter I > Subchapter F > Part 70 > Subpart G > Claims Procedures

• 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.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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.
• tax: means the internal revenue tax that is paid or determined on spirits. See 27 CFR 70.601
• Trustee: A person or institution holding and administering property in trust.
• you: as used in this part 108 means a NMVC Company unless otherwise noted. See 13 CFR 108.40