An entrepreneur transfers the majority of the stock in his business to an attorney who is to hold the stock until the entrepreneur's children reach age 21. At that time,the stock is transferred to the children. This is an example of a limited partnership.

Question

Quizplus · Accepted Answer

This is not an example of a limited partnership. It is an example of a trust agreement or a stock transfer restriction.

An Entrepreneur Transfers the Majority of the Stock in His