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A(n)_____________requires That Each Partner Act in Good Faith for the Benefit

question 181

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A(n) _____________requires that each partner act in good faith for the benefit of the partnership.


Definitions:

Antilapse Clause

A provision in a will or estate plan that specifies what happens to a gift if the beneficiary predeceases the donor, often allowing the gift to pass to the beneficiary's heirs.

Incontestability Clause

A part of an insurance contract that precludes an insurance company from challenging statements in an insurance application after a certain period of time.

State Mandated

Requirements or actions imposed by state governments that must be complied with by individuals or entities within that state.

Premium

An insurance payment.

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