A general partner in a limited partnership believes that an LLLP has been created wrongly. In such a case, which of the following will apply?
A) He will be considered a limited partner of the limited partnership.
B) He will lose his management powers over the limited partnership.
C) He will have to share profits equally with all other partners.
D) He will have unlimited liability for the obligations of the limited partnership.
Correct Answer:
Verified
Q1: A general partner in an LLLP will
Q5: A partner's transfer of his/her transferable interest
Q17: In general,the ULPA does not grant partners
Q23: Johnathan LLC has a term of eight
Q25: Any of the managers in a manger-managed
Q25: Steve,Martha,and Pete formed an LLC two years
Q31: Josh,Betty,and Danny formed an LLC to manage
Q42: As commonly occurs,a(n)_ may be the sole
Q45: With regard to an LLLP,a _ is
Q57: The primary reason to choose the limited
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