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Fiduciary Duties
Obligations that one party has to act in the best interest of another when managing assets or making decisions, typical in trustee-beneficiary, agent-principal, or director-shareholder relationships.
Apparent Authority
A form of authority that a third party perceives an agent has, based on the principal's behavior, leading the third party to conclude that the agent is authorized to act.
Joint Stock Company
A business entity in which shares of the company's stock can be bought and sold by shareholders, and the ownership of which is divided among those shareholders.
Partnership Agreement
A document that outlines the rights, responsibilities, and obligations of each partner in a partnership.
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