Solved

Which of the Following Must a Limited Partner Do or Refrain

Question 63

Multiple Choice

Which of the following must a limited partner do or refrain from doing in order to retain limited personal liability?


A) The limited partner must comply in good faith with the requirement that a certificate of limited partnership be filed.
B) The limited partner may not participate in the control of the business.
C) The limited partner's surname may not be a part of the partnership name.
D) The limited partner must comply in good faith with the requirement that a certificate of limited partnership be filed, the limited partner may not participate in the control of the business, and the limited partner's surname may not be a part of the partnership name.
E) The limited partner must comply in good faith with the requirement that a certificate of limited partnership be filed and the limited partner may not participate in the control of the business, but whether the limited partner's surname appears as a part of the partnership name is irrelevant to the issue of personal liability.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents