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.
statute (stachÂ´Å«t), n a law enacted and established by a legislative department of government. statute of frauds, n a requirement that, for legal validity, contracts for conveying real property or contracts for the performance of personal services requiring a year or more to perform must be in writing.