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25 Multiple choice questions

  1. business partnership wherein there is a general partner with unlimited liability, and one or more limited partners with no official input in daily operations and limited liability
  2. a design that identifies and distinguished the source of a service rather than a product
  3. a legal entity composed of stockholders under a common name
  4. property rights available to the public rather than held by an individual
  5. the cost of insurance
  6. the failure of a signatory to perform as agreed
  7. the right to reproduce someone's work online
  8. an official document that verifies something
  9. a standard format for a specific type of legal agreement
  10. a document that puts an oral understanding in writing, in the form of a business letter
  11. a person who has been authorized by the state to witness the signing of documents
  12. the legal process in which an individual or business declares the inability or impaired ability to pay debts as they come due
  13. an official document that gives a party the right to hold a specific event
  14. an official document that grants the right to engage in an activity for a specified period of time
  15. a legal option for solving conflicts involving less than a certain sum of money
  16. a system of protection for payment provided by insurance companies to reimburse individuals and organizations when their property or wealth has been damaged, destroyed, or lost
  17. the time period in which legal action may be taken
  18. a business owned by one person who has unlimited liability and rights to profits
  19. an agreement between two or more parties that is enforceable by law
  20. a method of dispute resolution using an arbitrator to act as the decision marker rather than going to court
  21. a condition that must be met in order for something else to occur
  22. a business with two or more owners that make decisions for the business together and share the profits, losses, assets, and liabilities
  23. an individual who signs a contract
  24. the amount of loss or damage a policyholder covers before the insurer pays on a claim
  25. an exclusive right, granted by the government, to produce, use, and sell an invention or process