Terms Used In New York Laws > General Municipal > Article 15-B > Title 3 - Binghamton Urban Renewal Agency

• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Summons: Another word for subpoena used by the criminal justice system.