CFR > Title 42 > Chapter IV > Subchapter D > Part 457 > Subpart L > General Provisions
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Terms Used In CFR > Title 42 > Chapter IV > Subchapter D > Part 457 > Subpart L > General Provisions
- 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.
- corporation: includes associations, joint-stock companies, and insurance companies. See 26 CFR 36.3121(l)(1)-1
- 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.