When Two People Enter into a Partnership by Agreement but Neglect

question 128

Short Answer

When two people enter into a partnership by agreement but neglect to set out the terms of such agreement,or where the parties becomes partners inadvertently,where are the terms and arrangements of that partnership set out?

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Definitions:

Spot Rate

The current market price at which a particular asset, such as currency, commodity, or security can be bought or sold for immediate delivery.

Direct Quote

A currency exchange rate quoted as the domestic currency per unit of the foreign currency.

Exchange Rate Risk

The potential for investors or companies to experience financial loss due to fluctuations in the exchange rate between two currencies.

Pledging

Using assets as collateral to secure a loan, where the assets remain in the borrower's possession but the lender holds a claim against them.