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Legal Terms Related to Business Associations and Contracts Discussion

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1- Read chapter 8 and make a glossary in a word/pdf document

Please submit a glossary of legal terms related business associations and contracts.

2- Please write definitions, in your own words, for the following terms:

Sole proprietorship

Partnership

Joint venture

Unincorporated association

Loose association

Fiduciary duty

Actual authority (might be easiest to write a quick example)

Implied authority (might be easiest to write a quick example)

Apparent authority (might be easiest to write a quick example)

LLC

LLP

Agent

Principal

Independent contractor

Consideration

Promisor

Offeror

Offer

Acceptance

Promissory estoppel

Unconscionability

Parole evidence rule

Exculpatory clause

Anticipatory repudiation