As Part of the Partnership Agreement That Malik and Veronica

question 12

Multiple Choice

As part of the partnership agreement that Malik and Veronica make with their limited partners, Malik insists on and Veronica and the limited partners agrees to a(n) ________ that allows the continuing partners to keep partnership property and carry on the partnership business?

• A) continuation agreement
• B) property agreement
• C) fulfillment agreement
• D) carry over agreement
• E) extenuating agreement

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Definitions:

Blue Laws

Laws designed to restrict or ban certain activities on Sundays, traditionally to encourage observance of a day of worship or rest.

Professional Licenses

Certifications issued by a government or professional body that verify someone's qualification to perform a particular profession.

Covenant Not To Compete

An agreement not to compete against a party for a set period of time within a designated geographic area.

Public Policy

Guiding principles and philosophies that underlie the laws and actions of a government, aimed at ensuring the public's general welfare.