Examlex
Lawyers are required to pass a comprehensive bar exam to be licensed to practice law. What effect should this have on the number of lawyers, the wages they receive, and the price people have to pay to receive legal services?
Principal
The original amount of money loaned or invested, before any interest or profit is added.
Agent
An individual or entity authorized to act on behalf of another, often in a business transaction, representing their interests.
General Partnership
A business arrangement where two or more individuals agree to share in all assets, profits, and financial and legal liabilities of a business.
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