If a person takes his or her clothes to the cleaners, that is an example of a mutual benefit bailment. – true

In a general partnership, no papers need to be filed with the state to establish the legal existence of the partnership.

In a limited liability company (LLC), the owners are called partners.

In a limited partnership (LP), a limited partner can act as a surety for the partnership without losing the limited partner status.

A special agent for a principal is someone who can make contracts for all business affairs of the principal.

As a general rule, a principal is not legally responsible for the acts of an independent contractor.

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