The Partners in a _____ Share Decision Making Authority, Control

question 82

Multiple Choice

The partners in a _____ share decision making authority, control of the operation, and profits earned.

• A) tactical alliance
• B) consortium
• C) strategic association
• D) cloud system
• E) joint venture

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Definitions:

Promisor

The individual or party in a contract who makes a promise to perform an act or service.

Promisee

The party in a contract to whom a promise is made by another party (the promisor), and who stands to benefit from the fulfillment of that promise.

State Common Law

The body of law developed through court decisions and precedent, as opposed to laws enacted by a legislative body, within a particular state.

Article 2

A portion of the Uniform Commercial Code that deals specifically with the sale of goods.