Examlex
According to the text, which of the following terms is the social condition characterized by tight global economic, political cultural, and environmental interconnections and flows that make most of the current borders and boundaries irrelevant?
Legal Entity
An organization that has legal rights and obligations, including the ability to enter into contracts and own property, separate from its individual members.
Corporation
A legal entity formed by a group of individuals to conduct business or other activities, recognized as separate from its owners with its own rights and liabilities.
Personal Liability
The legal responsibility of an individual to settle his or her debts and obligations, potentially using personal assets.
General Partner
A member of a partnership who has unlimited liability and is actively involved in the management of the partnership.
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