Which of the following is true of a joint venture?

Question

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In a joint venture, both parties typically have an equal say in managing the venture. However, this may not always be the case, and the terms of management will be specified in the joint venture agreement. A joint venture can be for a single project or for multiple projects, and the parties are still subject to fiduciary duties to each other. The parties may not necessarily be considered limited partners in a joint venture, as there are various types of joint ventures with different legal structures.

Which of the Following Is True of a Joint Venture