Examlex
Discuss the advantages and disadvantages of both ideal or currently attainable standards.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another. The obligated party is typically in a position of trust, such as a financial advisor or trustee.
Rightful Dissolution
The legally justified process of formally ending the existence of an entity, such as a corporation or partnership.
Managing Partner
A member of a partnership who is responsible for its day-to-day operations and has the authority to make managerial decisions.
Actual Authority
The power that an agent or representative is formally granted by a principal or entity to conduct business on their behalf.
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