A ________ sets forth the rights and duties of the general and limited partners, along with the details of how the partnership will be managed and eventually dissolved.
A) partnership accord
B) restricted partnership agreement
C) business partnership agreement
D) limited partnership concurrence
E) limited partnership agreement

Question

Quizplus · Accepted Answer

A limited partnership agreement sets forth the rights and duties of the general and limited partners, along with the details of how the partnership will be managed and eventually dissolved. A partnership accord, restricted partnership agreement, business partnership agreement, and limited partnership concurrence are not commonly used terms in reference to partnerships, and do not accurately describe the document in question.

A ________ Sets Forth the Rights and Duties of the General