Terms Used In CFR > Title 7 > Subtitle B > Chapter I > Subchapter B > Part 46 > Trade Terms and Definitions

• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Grade: means a class or rank of quality. See 7 CFR 51.2
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Sample: means any number of sample units to be used for inspection. See 7 CFR 51.2