Question: 1. Define partnership and explain its key elements. 2. Describe the rights and general duties of partners in a partnership. 5. What is the difference

1. Define partnership and explain its key elements.

2. Describe the rights and general duties of partners in a partnership.

5. What is the difference between a limited partnership and a limited liability limited partnership?

6. Apply an interest concept from the chapter to a real-life situation.

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