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26.2_cj

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
Joint venture   partnership formed by two or more persons or firm combining resources and skills for one complex project  
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Dissolution   change in partnership relationship due to a partner ceasing his association with its ongoing purpose; also, term for divorce or the ending of a marriage in some states  
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Winding-up period   period following dissolution in which the ongoing business of the partnership is concluded, its obligations are satisfied, and each partner's share is distributed  
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Termination   following the winding-up process, the ending of the legal existence of the partnership  
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Partnership at will   partnership in which a partner may withdraw at any time without liability to other partners  
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Tenancy in partnership   form of co-ownership by which the partners hold partnership property  
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