Terms Used In CFR > Title 7 > Subtitle B > Chapter I > Subchapter A > Part 28 > Subpart D > Classification and Market News Services

• 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.
• 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}
• Statute: A law passed by a legislature.