A limited partner is liable
A) for only his or her own share of the partnership's debts.
B) for his or her own share of the partnership's debts and contingently liable for the other partners shares.
C) only up to the amount invested by that partner.
D) for none of the partnership's debts.

Question

Quizplus · Accepted Answer

A limited partner is only liable up to the amount that they have invested in the partnership. This means that their personal assets cannot be used to pay off any debts or obligations owed by the partnership beyond their investment.

A Limited Partner Is Liable