What is the liability of a 'limited' partner?
A) Limited partners are liable for the debts of the partnership beyond their capital contribution.
B) Limited partners have unlimited liability for the debts of the partnership.
C) Limited partners are not liable for the debts of the partnership beyond their agreed capital contribution.
D) Limited partners have no liability for the debts of the partnership.
Correct Answer:
Verified
Q14: How would you explain to a person
Q21: Which of the following statements about partner's
Q27: Property of a partner used for the
Q34: A person who obtains credit for a
Q34: Why did the court find a breach
Q36: A partnership is automatically dissolved if the
Q38: A partnership may be dissolved by:
A) Illegality.
B)
Q42: Which of the following statements is NOT
Q43: A limited liability partnership can have a
Q44: A limited liability partnership can have 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