Terms Used In CFR > Title 34 > Subtitle B > Chapter VI > Part 601 > Subpart C - Responsibilities of Covered Institutions and Institution-Affiliated Organizations

• Contract: A legal written agreement that becomes binding when signed.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.