Topic 8 - Law and Business Flashcards
(3 cards)
1
Q
Contract
A
An agreement that is enforceable by law and which creates rights and duties between the parties.
2
Q
Single-owner enterprise
A
One person contributes to the capital and only that person will receive the income.
3
Q
Partnership
A
A contractual relationship between persons to make a profit and share it as well as the loses.
