Fern and Gray want to form a limited partnership to manage two restaurants, Café Latte and Deli Delite.In most states, a limited partnership will come into existence when

Question

Quizplus · Accepted Answer

In most states, a limited partnership will come into existence when a certificate of limited partnership is filed with the Secretary of State or another designated state agency. This certificate typically includes the names and addresses of the partners, the name of the partnership, and other required information about the partnership. Once the certificate is filed and accepted by the state, the limited partnership is created and can begin conducting business. While a partnership agreement and capital contributions are important components of a limited partnership, they do not typically determine when the partnership comes into existence under state law.

Fern and Gray Want to Form a Limited Partnership to Manage