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2-Part discussion: Part 1: Jerry is confused about the partnership characteristics of (a) mutual agency and (b) unlimited liability. Explain these two characteristics for Jerry.

2-Part discussion: Part 1: Jerry is confused about the partnership characteristics of (a) mutual agency and (b) unlimited liability. Explain these two characteristics for Jerry. Part 2: Brent Houghton and Dick Kreibach are considering a business venture. They ask you, as business consultant, to explain the advantages and disadvantages of the partnership vs. corporation form of organization. Please provide them with your advice.

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