Examlex
As the use of the Internet grows around the world, understanding between countries must be reached so that there can be as easy an exchange of ideas and information as possible. One important issue is opt-in versus opt-out. All European websites have opt-in policies, and U.S. websites have opt-out policies. Opt-in means customers must ask to be involved in data collection and marketing while opt-out companies
Automatically include customers in data collection unless the customer specifically asks not to be included. Europeans and European businesses believe it is unethical to invade someone's privacy. American businesses do it all the time because Americans are not nearly as protective of their right to privacy. What ethical factor is illustrated by this example?
UPA
Uniform Partnership Act; legislation that governs the operation of partnerships in the United States.
Partnership Creditor
A creditor that has a claim against the assets or earnings of a partnership, often arising from debts or obligations of the partnership.
Contract Obligation
A legal duty under a contract that a party must fulfill as part of the contractual agreement.
Dissolution
The process by which a company's existence is legally terminated.
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