This is typically a planing boat that rides on top of rather than through the water. Due to issues with maneuverability and the roughness of the ride these hulls are limited to the amount of horse power applied. This hull type is typically used on calm waters.
Definition. An agreement creating obligations enforceable by law. The basic elements of a contract are mutual assent, consideration, capacity, and legality. In some states, the element of consideration can be satisfied by a valid substitute.n agreement creating obligations enforceable by law. The basic elements of a contract are mutual assent, consideration, capacity, and legality.
Definition of Contract Law. Noun. The branch of civil law that deals with interpretation and enforcement of contracts between two or more parties. What is Contract Law. Contract law governs the legality of agreements made between two or more parties when there is an exchange of some sort intended to take place.