Which of the following partnerships is distinguishable from other forms of partnership because the partners' liability for professional malpractice is limited to the partnership?
A) General partnership
B) Limited partnership
C) Professional partnership
D) Limited liability partnership
E) Loss limiting partnership

Question

Quizplus · Accepted Answer

Limited Liability Partnership (LLP) is unique among partnership forms because it allows partners to have limited liability for the actions of other partners, specifically including protection from liability for professional malpractice committed by other partners, with the liability being limited to the partnership itself.

Which of the Following Partnerships Is Distinguishable from Other Forms