Examlex
It is accurate to state that the
Mutual Agency
A legal principle in partnerships where each partner has the authority to act on behalf of, and bind, the partnership in contractual agreements.
Unlimited Liability
Partners may be personally liable for debts of the partnership.
Limited Risk
Financial exposure that is knowingly restricted or minimized in investments or business operations.
Articles of Partnership
A legal document that specifies the rights, duties, and obligations of each partner participating in a partnership business.
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