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What is Associative Contracts Explained about?

1) A partnership agreement allows a person called the partner to manage a business while another or others called associates contribute capital in exchange for a share of the profits. 2) A partner is responsible to third parties and manages the business, while associates do not participate in management but share in the profits. 3) The relationship between the partner and the associate does not create a new legal entity, with each party maintaining its original legal personality.

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