What are the most important provisions of a partnership, Management Theories

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What are the most important provisions of a partnership

Question: 1. What are the most important provisions of a partnership agreement?

2. Describe the duties and rights of partners.

3. Explain the difference between a limited partnership and a limited liability company?

4. What steps must be taken to dissolve a partnership?

5. Morgan and Stanley formed a partnership to operate a car dealership and they hired Jones to manage it. Jones' compensation is to be one-third of the business's profits. Is Jones considered a partner?

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