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| A set of laws proposed by a group of legal scholars and submitted to the legislatures of the various sates for adoption |
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| A financial interest in a business |
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| One who works for an employer |
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| One who acts on behalf of another |
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| Liability for the acts of another |
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| The power given in fact to an agent by the principal or employer |
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| Authority created by conduct that leads a third person to believe that authority exists |
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| Apparent authority, authority created by conduct that leads a third person to believe that authority exists |
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| A business owned and operated by one person |
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| A business operated by two or more individuals for profit |
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| A partnership meeting certain legal formalities and including at least one general partner and at least one limited partner, the limited partner's liability is limited to the extent of his or her capital contribution |
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| A business that is a legal entity unto itself and is formed according to the corporate laws of one state |
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| A corporation formed for any business purpose |
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| A corporation formed for a charitable, religious, educational, or like purpose; it uses all income for the stated purpose |
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| A corporation incorporated in one state and doing business in another |
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| The internal rules and regulations for a corporation |
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| The owners of a corporation |
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| Profits of a corporation that are distributed to the shareholders |
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| The individuals who exercise general management and control of a corporation |
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| The individuals who are responsible for the day-to-day management of a corporation |
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| A corporation formed for the purposed of engaging in certain professions, such as medicine or law |
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| Small corporation whose shares of stock are not available to the public |
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| A corporation whose shares of stock can be purchased by anyone |
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| An ownership interest in a business; an interest whose value is determined by the net worth of the business |
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| A certificate indicating that the holder is owed money by a business |
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| State securities regulations |
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Term
| Limited Liability Partnership (LLP) |
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Definition
| An organization tht provides limited liability to the partners without the Restrictions imposed by a limited partnership may be limited to a certain types of professions |
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| Limited Liability Company (LLC) |
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Definition
| A type of business organization that Provides limited liability to its owners; similar to a corporation, but not taxed as a corporations |
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| One who owed money to another |
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| Someone to whom money is owed |
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| A document is witnessed when the witness when the witness signs his or her name attesting that he or she observed the execution of a particular document or instrument |
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