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

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

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

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

A partnership is forced to terminate every time a partner dissociates from the firm.

Ken owns and operates Living Earth Garden Shop as a sole proprietorship. When Ken dies, Living Earth will automatically

Bylaws are the internal rules of management for a corporation.

The members of a joint venture have less implied and apparent authority than the partners in a partnership.

A partnership is forced to terminate every time a partner dissociates from the firm.