Business Organizations That Mimic the Characteristics of Partnerships Include

question 149

Multiple Choice

Business organizations that mimic the characteristics of partnerships include

• A)Special-purpose entities.
• B)Limited liability companies.
• C)S corporations.
• D)All of these choices.

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Definitions:

Privilege

A special right, advantage, or immunity granted or available only to a particular person or group.

Defamation

A false communication that injures someone's reputation, either through written statements (libel) or spoken statements (slander).

Negligence Per Se

A doctrine that allows a judge or jury to infer duty and breach of duty from the fact that a defendant violated a criminal statute that was designed to prevent the type of harm that the plaintiff incurred.

Modified Comparative Negligence

A defense accepted in some states whereby the defendant is not liable for the percentage of harm that he or she can prove is due to the plaintiff’s own negligence if the plaintiff’s negligence is responsible for less than 50 percent of the harm; if the defendant establishes that the plaintiff’s negligence caused more than 50 percent of the harm, the defendant has no liability.