Which of the following is true regarding Matt's entitlement to sue on behalf of the partnership?
A) If the general partners fail to bring a suit on behalf of the limited partnership, the limited partner can bring the suit.
B) If the general partners fail to bring a suit on behalf of the limited partnership, the limited partner can bring suit but only after obtaining the permission of all general partners.
C) If the general partners fail to bring a suit on behalf of the limited partnership, the limited partner can bring suit but only after obtaining the permission of a majority of the general partners.
D) A limited partner has no rights to bring suit on behalf of the partnership.
E) A limited partner has a right to bring suit on behalf of the partnership only if the litigation is in an amount of over $75,000 and then only with the permission of all general partners.
Correct Answer:
Verified
Q54: Which of the following is true regarding
Q55: Which of the following is false regarding
Q56: Are George and Marcy correct in that
Q57: Which of the following is true regarding
Q58: Limited partnerships are also known as which
Q60: Which of the following is true regarding
Q62: How is a limited partnership created and
Q63: Mona and Jill wish to start a
Q81: Set forth the order the Uniform Partnership
Q89: Set forth the circumstances under which a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents