For two years after a partner dissociates from a continuing partnership, the partnership may be bound by the acts of the dissociated partner.

Unlike most agents, each partner in a partnership has an ownership interest in the business.

Finn and Glenda want to form and do business as Hobby Crafts Corporation. This corporation will be recognized under the law as

A business that holds itself out as being a corporation may not be able to deny corporate status, even if it makes no attempt to incorporate.

In a manufacturing arrangement, a franchisor transmits to a franchisee the essential ingredients or formula to make a particular product.

In certain instances of fraud, a court may “pierce the corporate veil” to hold the shareholders individually liable.

In most states, each director present at a board meeting has one vote.

Finn and Glenda want to form and do business as Hobby Crafts Corporation. This corporation will be recognized under the law as

Foreign investors cannot participate in a limited liability company.

Kay and Linda decide to do business as Marketing & Promotion. To be a partnership, this association can result from an agreement that is