A __________ is a partnership in which the liability of the general partners has been limited to the same extent as in a limited liability partnership.

Question

Quizplus · Accepted Answer

A Limited Liability Limited Partnership (LLLP) is a type of partnership where the general partners have limited liability, similar to the limited partners, which is not the case in traditional limited partnerships. This structure combines the benefits of limited liability for all partners with the operational flexibility of a partnership.

A __________ Is a Partnership in Which the Liability of the General