Examlex
Which of the following statements are true of Virtual Warehouses? (Choose all that apply.)
Constructive Partnership
A legal concept where a partnership is deemed to exist based on the actions or conduct of the parties, despite there being no formal agreement.
Actual Partnership
A type of business partnership that exists when two or more individuals engage in a business for profit with an express or implied agreement of partnership, as opposed to being legally deemed partners by the law.
Purported Partner
Implies someone alleged or claimed to be a partner in a business or enterprise, often without the legal or formal acknowledgment of such a partnership.
Substantial Reliance
A level of dependence on a promise or statement significant enough to alter one's position, often referenced in contract law.
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