Limited partners are not liable for debts of the partnership while it is doing business.

Name: Limited partners are not liable for debts of the partnership while it is doing business.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Limited partners have limited liability, meaning they are not personally liable for the partnership's debts or obligations. Only the general partner(s) are fully liable for the partnership's debts while it is doing business.

Limited Partners Are Not Liable for Debts of the Partnership