Examlex
Explain the economic assumption that "people are rational."
Limited Liability Company
A Limited Liability Company (LLC) is a business structure that offers personal liability protection to its owners, along with tax and operational flexibility.
Formed
The process of creating or establishing something, often referring to the formation of a legal or structured entity such as a company or agreement.
Advantages and Disadvantages
A consideration of the positive and negative aspects of a particular decision, action, or strategy.
Respondeat Superior
A legal doctrine holding an employer or principal legally responsible for the wrongful acts of an employee or agent, under certain conditions.
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