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Operation Of Law
Changes in rights or obligations that occur automatically due to established legal rules, without the need for action by the parties involved.
Bankruptcy
A legal process through which individuals or businesses unable to meet their financial obligations can seek relief from some or all of their debts.
Partnership By Estoppel
A legal doctrine that treats a non-partnership as if it were an actual partnership because third parties were misled to believe a partnership existed.
Delectus Personae
A legal principle emphasizing the importance of personal choice and trust in the selection of individuals to fulfill certain roles, especially in partnerships.
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