Examlex
What type of power does a manager use when he or she hires new employees, assigns them work, and monitors their performance?
Vicarious Liability
Legal responsibility placed on one person for the acts of another.
Joint Liability
Shared liability. In partnership law, partners incur joint liability for partnership obligations and debts.
Fiduciary Duty
A legal obligation of one party to act solely in the best interest of another party, such as a trustee for a beneficiary.
Partnership's Profits
Partnership's profits refer to the share of income generated by a business partnership that is distributed among its partners according to the terms of their agreement.
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