A Joint Venture

question 151

Multiple Choice

A joint venture:

• A)is a partnership limited in scope.
• B)is a limited liability company.
• C)must be incorporated to be recognized.
• D)none of the above

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Definitions:

Shays' Rebellion

An armed uprising in 1786-1787 in Massachusetts by American farmers against state and local enforcement of tax collections and judgments for debt, highlighting the weaknesses of the Articles of Confederation.

Articles of Confederation

The first constitution of the 13 American states, adopted in 1781 and replaced in 1789 by the United States Constitution.

Articles of Confederation

The original constitution of the United States, ratified in 1781, which was replaced by the U.S. Constitution in 1789 due to its inability to provide a strong central government.

Supremacy Clause

A clause in the United States Constitution stating that federal law takes precedence over state laws and constitutions when they conflict.