Jill was a limited partner in a retail business that was sued by a customer who fell in the store.The customer claimed the business was negligent in caring for its floors.Which statement best describes Jill's potential liability?

Question

Quizplus · Accepted Answer

As a limited partner, Jill's liability is limited to the amount of her investment in the business. Therefore, she can only be liable up to the amount she has invested and is not personally responsible for any additional damages beyond that amount. The general partners are the ones who have unlimited personal liability in the business.

Jill Was a Limited Partner in a Retail Business That