It Is Best That a Written P_____________ A______________ Should Be

question 10

Short Answer

It is best that a written p_____________ a______________ should be established when a partnership is formed so that what has been agreed on is not subject to dispute at a later date.

---

Definitions:

Debtor's Possession

Referencing an instance where individuals or entities in debt retain control over their assets while undergoing legal or financial proceedings.

Secured Transaction

A transaction in which the payment of a debt is guaranteed by personal property owned by the debtor.

Personal Property

Movable assets owned by an individual, as opposed to real property like land or buildings.

Debtor

An individual or entity that owes money or is legally obligated to make payments to another party.