Examlex
Which of the following characterizes appropriations?
Liquidation
The process of winding up a company's financial affairs by selling off its assets to pay off creditors, after which the company ceases to exist.
Jointly And Severally
A legal term indicating that parties in an obligation or liability are responsible both together as a group and individually.
Contract Obligations
Duties imposed by a contract that parties must perform; failure to do so can result in legal action.
Partnership By Estoppel
A legal principle that occurs when a person who is not technically a partner in a business behaves like a partner or allows others to believe they are a partner, and as a result, may be held liable as a partner.
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