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A Business Owned by Two or More Individuals Whose Personal

question 51

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A business owned by two or more individuals whose personal possessions are at risk if the business fails is called a:


Definitions:

Promissory Note

A financial document in which one party promises to pay another party a specified sum of money at a defined future point in time or on demand.

Honors a Note

This refers to the action of fulfilling the obligations outlined in a promissory note, typically by repaying the principal and interest by the due date.

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