Explain the Major Differences Between Civil and Criminal Law

question 45

Essay

Explain the major differences between civil and criminal law.

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Definitions:

Partnership Property

Assets owned collectively by partners in a partnership, intended for use in the business and subject to the partnership agreement.

Partnership's Assets

The resources owned by a partnership that are used in its business operations.

General Partners

Individuals or entities who manage the business and are personally liable for the partnership's debts.

Limited Partners

Investors in a partnership who are not involved in the daily operations of the business and whose liability is restricted to the amount of their investment.