Otto is a limited partner in Port Exports, a limited partnership. By participating in the firm's management, Otto is liable for its obligations
A)in proportion to the number of partners in the firm.
B)to no extent.
C)to the extent of his capital contribution to the firm.
D)to the full extent.

Question

Quizplus · Accepted Answer

A limited partner who participates in the management of the partnership can lose their limited liability status and become liable for the partnership's obligations to the full extent, similar to a general partner.

Otto Is a Limited Partner in Port Exports, a Limited