Examlex
Owners cannot write checks on nontransaction deposits,but the interest rate paid on these deposits are usually higher than those on checkable deposits.
Legal Capacity
Legal capacity is the ability of an individual or entity to enter into legally binding contracts, sue or be sued, and make decisions that carry legal consequences.
Partnership Agreement
A legal document that outlines the rights, responsibilities, and other operational details among partners in a business venture.
Minor Partner
A partner in a business who has not reached the age of majority, limiting their legal capacity and liabilities within the partnership.
UPA
Acronym for Uniform Partnership Act, which is legislation aimed at governing the operation and management of partnerships in the United States.
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