California Codes > Education Code > Title 2 > Division 4 > Part 28 > Chapter 5 > Article 8 – Aviation Education
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Terms Used In California Codes > Education Code > Title 2 > Division 4 > Part 28 > Chapter 5 > Article 8 - Aviation Education
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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.