In a general partnership, the senior partner controls decisions on ordinary matters connected with partnership business.

The laws governing franchising are primarily designed to protect franchisors from dishonest franchisees.

In a limited partnership, a general partner’s dissociation from the firm normally will lead to dissolution unless all partners agree to continue the business.

The law considers all new businesses to be sole proprietorships regardless of the number of owners.

Corporate directors and officers are insurers of business success.

Dollars & Sense, Inc., is incorporated in the state of New Jersey and is doing business in the state of New York. In New York, Dollars & Sense is properly referred to as

Corporate directors and officers are insurers of business success.

An agreement between shareholders can restrict the transfer of a close corporation’s stock.

Bay City Merchants Corporation has six shareholders, four of whom are members of the same family. All of Bay City’s shareholders agree in writing to operate without shareholders’ meetings. Under the Revised Model Business Corporation Act, this most likely warrants

A limited liability company can be held liable for any loss or injury caused by the wrongful acts or omissions of its members in the course of business.