Solved

Was George Correct That a Limited Partnership May Be Created

Question 46

Multiple Choice

Was George correct that a limited partnership may be created informally through an oral agreement?


A) Yes, an oral agreement will suffice.
B) George was partially correct. A written agreement is required, but only the general partners are required to sign it. Limited partners may agree orally.
C) George was partially correct. A written agreement is required, but only the limited partners are required to sign it. General partners may agree orally.
D) George was incorrect, and both general and limited partners must sign a certificate of limited partnership and file the certificate with the secretary of state.
E) George was incorrect, and both general and limited partners must sign a document of partnership limitation that is kept on file in the primary business office of the limited liability partnership.

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