Under the ULPA of 2001,a limited partner who participates in management and control of the limited partnership:
A) has unlimited liability to creditors of the limited partnership.
B) has limited liability only to those creditors with whom he has transacted businesses.
C) has unlimited liability only to those creditors with whom he has transacted business and who reasonably believe that he is a general partner.
D) has liability up to the limit of his capital contribution.
Correct Answer:
Verified
Q55: A certificate of limited partnership must contain
Q56: The limited partnership agreement of Davos Limited
Q57: The primary reason to choose the limited
Q58: Under the default rules of the ULPA,a
Q59: Who is liable for the acts of
Q61: Under the ULPA,if two general partners contribute
Q62: The ULPA and the RULLCA permit limited
Q63: Ken was a general partner in a
Q64: What type of statute would authorize an
Q65: Which of the following statements about LLC
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents