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Describe the concept of global systems of stratification.
Implied Authority
The power of an agent to perform acts that are reasonably necessary to accomplish the purpose of an agency, even if not explicitly authorized.
Dissolution
The process of formally closing or ending an entity, such as a business, partnership, or marriage, through legal means.
Wrongfully Dissociated
In the context of partnership law, this term refers to a partner being expelled or exiting a partnership in violation of the agreement or governing statutes.
Partnership Interest
The ownership stake or share an individual holds in a partnership, representing their portion of the rights and profits.
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