Identify the Basic Issues That Should Be Expressly Addressed in a Partnership

question 56

Essay

Identify the basic issues that should be expressly addressed in a partnership agreement,including the description of each respective clause.Lastly,indicate when a partnership agreement would have to be revisited.

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Definitions:

Bill of Rights

The first ten amendments to the United States Constitution, ratified in 1791, guaranteeing essential rights and freedoms to American citizens.

Federal Judiciary

The branch of the United States government responsible for interpreting and applying laws at the federal level, consisting of the Supreme Court and lower federal courts.

Assumption of State Debts

A policy proposal by Alexander Hamilton in the late 18th century, advocating that the federal government assume debts incurred by the states during the American Revolutionary War.

Alexander Hamilton

A Founding Father of the United States, chief staff aide to General George Washington, and the first Secretary of the Treasury.