A Sole Proprietorship Is Not Considered as a Separate Legal

question 10

True/False

A sole proprietorship is not considered as a separate legal entity from its owner.

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Definitions:

Consideration

Something of value (such as an object, money, service, or promise) that is given by a party to induce another to enter into a contract.

Requirements Contract

A type of contract in which one party agrees to purchase all of its needs for a particular good or service from the other party.

Enforceable

Capable of being imposed or upheld by legal process, indicating that an agreement or law can be compelled to be obeyed or carried out.

Inadequate Consideration

When the value exchanged in a contract is disproportionately small, calling into question the validity of the agreement.