CFR > Title 49 > Subtitle A > Part 29 > Subpart F > Procurement
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Terms Used In CFR > Title 49 > Subtitle A > Part 29 > Subpart F > Procurement
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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.