A limited partner in a limited partnership has limited liability for the debts and obligations of the limited partnership similar to that of a shareholder in a corporation.

Question

Quizplus · Accepted Answer

A limited partner's liability is limited to the amount of their investment and they are not personally liable for the debts and obligations of the limited partnership. This is similar to the limited liability of a shareholder in a corporation.

A Limited Partner in a Limited Partnership Has Limited Liability