Assuming the limited partnership is properly conducted, what is the maximum amount that a limited partners can be held liable for in a lawsuit against the partnership?
A) Unlimited personal liability.
B) The amount the limited partner brought into the business.
C) The level of liability insurance the partnership purchased for the partners.
D) A court would determine the amount of personal liability of a limited partner.
E) The amount allocated by statute of the state in which the partnership is domiciled.
Correct Answer:
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