Examlex
What are the advantages of a firm being formed as a limited liability company (LLC)instead of as a limited partnership?
Substantially Impaired
Significantly reduced in ability or function, often referring to a state of physical or mental incapacity that affects one's legal rights or responsibilities.
Risk Passes
A term used in sales and contract law signifying the point at which the risk of loss or damage to goods transfers from the seller to the buyer.
Destroyed Goods
Items or products that have been damaged to the point where they can no longer serve their intended purpose.
Commercial Reasonableness
Reasonable commercial standards of fair dealing, required of merchants in addition to honesty in fact.
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