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.
Here are all the possible meanings and translations of the word contract. Princeton's WordNet(2.25 / 8 votes)Rate this definition: contract(noun) a binding agreement between two or more persons that is enforceable by law. contract, declaration(noun) (contract bridge) the highest bid becomes the contract setting the number of tricks that the bidder must make. contract, contract bridge(verb) a variety of bridge in which the bidder receives points toward game only for the number of tricks he bid.