New York Laws > Rapid Transit > Article 1 – Short Title and Definitions
Current as of: 2024 | Check for updates
|
Other versions
§ 1 | Short title |
§ 2 | Definitions |
Terms Used In New York Laws > Rapid Transit > Article 1 - Short Title and Definitions
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.