Today About 67 Percent of the U

question 31

Multiple Choice

Today about 67 percent of the U.S.population owns a home, but in 1945, just as World War II was ending it was

• A)about 10 percent.
• B)about 43 percent.
• C)about the same as today.
• D)about 90 percent, much higher than today.

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Definitions:

Partnership By Estoppel

A legal principle that occurs when a person who is not technically a partner in a business behaves like a partner or allows others to believe they are a partner, and as a result, may be held liable as a partner.

Justifiably Relies

A principle where a party reasonably depends on the statements or actions of another, typically in a legal or contractual context.

Remaining Partners

The partners who continue the business after one or more partners depart.

Dissolution

The process of formally ending or dissolving a business or partnership, often through legal means.