Examlex
What is an implied term? In what circumstances are the courts likely to find that an implied term is appropriate to the interpretation of the contract?
Contract Between Partners
A legal agreement that outlines the rights, responsibilities, and share of profits/losses among partners in a partnership.
Distribution Of Remaining Cash
The allocation of left-over cash to shareholders or for other corporate purposes after settling all obligations and investments.
Liquidation
Liquidation is the process of selling off a company's assets to pay off its debts and liabilities, typically occurring when a company is insolvent or ceasing operations.
Mutual Agency
A principle of partnership where each partner is both an agent and a principal, legally authorized to make business decisions and transactions that can bind the partnership.
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