Examlex
User-defined classes may be composed of other user-defined classes.
Partnership
A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a partnership agreement.
Personal Liability
The legal responsibility of an individual to settle debts or obligations from their own assets, rather than those protected by a corporation or limited liability entity.
Business Debts
Obligations that a business incurs as a result of operating activities, including loans, accounts payable, and any other form of borrowed money.
No Personal Liability
A legal principle that protects individual actors within a corporation or legal entity from bearing personal financial responsibility for the entity's liabilities.
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