Examlex
How would you prove that you have a case of negligence against a person that would stand up in court?
Net Income
The company's ultimate financial gain post all deductions of expenses and taxes from the revenue generated.
General Partnership
A business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed. This arrangement involves sharing the profits, liabilities, and decision-making processes of the business.
Individually Liable
The legal responsibility of a single person to pay off debts or fulfill obligations incurred.
Creditors
Creditors are individuals or entities that lend money or extend credit, and are owed repayment by debtors.
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