In an LLP that is continuing business after dissociation:
A)a dissociated partner has high risk of continuing liability for contracts.
B)a dissociated partner has less risk of continuing liability for torts occurring before or after the partner leaves the LLP.
C)the partner's liability is limited beyond the LLP's assets.
D)the buyout payment made to a dissociated LLP partner will impair the ability of the LLP to pay its creditors.

Question

Quizplus · Accepted Answer

In an LLP,a dissociated partner has less risk of continuing liability for contracts and torts occurring before or after the partner leaves the LLP,since the partner's liability is limited to the LLP's assets.

In an LLP That Is Continuing Business After Dissociation