A partnership designed to protect innocent partners from malpractice or negligence claims resulting from acts of another partner is a(n):
A)Partnership.
B)Limited partnership.
C)Limited liability partnership.
D)General partnership.
E)Unlimited liability company.

Question

Quizplus · Accepted Answer

A limited liability partnership (LLP) is a partnership in which all partners have limited liability, meaning they are not personally responsible for the acts of negligence or malpractice committed by other partners. This provides protection to innocent partners who did not engage in such acts. The other options do not provide such protection.

A Partnership Designed to Protect Innocent Partners from Malpractice or Negligence