What is the definition of Propriety theory? | Dictionary.net

PROPRIETY THEORY

\pɹəpɹˈa͡ɪ͡ətɪ θˈi͡əɹi], \pɹəpɹˈa‍ɪ‍ətɪ θˈi‍əɹi], \p_ɹ_ə_p_ɹ_ˈaɪə_t_ɪ θ_ˈiə_ɹ_i]\

Definitions of PROPRIETY THEORY

1910 - Black's Law Dictionary (2nd edition)

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This is a theory that states that all of the liabilities as well as the assets of a company are the responsibilities of the owner of the business. No one else is responsible for the assets and liabilities of the company.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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