Examlex
Complete the blank with either or to make the statement true.
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Operation of Law
Describes a legal process that occurs automatically due to established legal rules, without the need for action by any party.
Dissolution
The process of legally ending the existence of a corporation, partnership, or other legal entity.
Winding-Up Process
A formal procedure in which a company's assets are liquidated and liabilities are paid off before the company is dissolved.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another. The obligated party is typically in a position of trust, such as a financial advisor or trustee.
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