Which of the Following Is Created When Two or More

question 49

Multiple Choice

Which of the following is created when two or more companies form a special entity to undertake a specific project, usually for a specific period of time?

• A) a cooperative
• B) a limited-time partnership
• C) a general partnership
• D) a joint venture

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Definitions:

Merger Clauses

Provisions in a contract stating that the written document represents the entire agreement between the parties, negating any oral agreements.

Parol Evidence

The rule that prohibits the use of oral statements or agreements to contradict or vary the terms of a written contract.

Integrated Contract

A written contract intended to be the complete and final representation of the parties’ agreement.

Written Contracts

Legally binding agreements that are recorded in writing rather than agreed upon orally or implied by conduct.