When Partners Disagree Concerning an Action to Be Taken in the Ordinary

question 72

True/False

When partners disagree concerning an action to be taken in the ordinary course of business,the disagreement will be resolved only if all the partners agree.

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Definitions:

Yield

The income return on an investment, such as the interest or dividends received, often expressed as a percentage of the investment's cost or current value.

Principle Due

The portion of a loan or mortgage payment that reduces the original amount borrowed; it does not include interest or additional fees.

Interest Rate

The percentage of an amount of money charged for its use per a certain period, often annually, by a lender to a borrower.

Compounded Annually

A method of calculating interest where the interest earned each year is added to the principal, forming a new base for future interest calculations.