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Dissolving Partnership
The process of legally ending a partnership agreement, involving the distribution of assets and liabilities among the partners.
General Partnership
A business arrangement where two or more individuals agree to share in all assets, profits, and financial and legal liabilities of a venture.
Unlimited Personal Liability
A legal obligation where an individual's personal assets can be used to satisfy business debts and liabilities without limit.
Represents Himself
Refers to an individual who acts as his or her own legal representative in court, without an attorney.
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