New York Laws > Local Finance > Article 2 > Title 6 – Local Obligations: Estoppel From Contesting Validity Thereof
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Terms Used In New York Laws > Local Finance > Article 2 > Title 6 - Local Obligations: Estoppel From Contesting Validity Thereof
- 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.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.