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 of frauds. n. law in every state which requires that certain documents be in writing, such as real property titles and transfers (conveyances), leases for more than a year, wills, and some types of contracts. The original statute was enacted in England in 1677 to prevent fraudulent title claims. (See: fraud).