CFR > Title 30 > Chapter XII > Subchapter A > Part 1218 > Subpart C – Oil and Gas, Onshore
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Terms Used In CFR > Title 30 > Chapter XII > Subchapter A > Part 1218 > Subpart C - Oil and Gas, Onshore
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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.
- 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.