New York Laws > Estates, Powers and Trusts > Article 10 > Part 3 – Varieties of Powers
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Terms Used In New York Laws > Estates, Powers and Trusts > Article 10 > Part 3 - Varieties of Powers
- 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.
- Donee: The recipient of a gift.
- Donor: The person who makes a gift.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.