CFR > Title 49 > Subtitle B > Chapter I > Subchapter D > Part 192 > Subpart K – Uprating
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Terms Used In CFR > Title 49 > Subtitle B > Chapter I > Subchapter D > Part 192 > Subpart K - Uprating
- Contract: A legal written agreement that becomes binding when signed.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- 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.
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.