Which of the following is distinguishable from other forms of partnerships because the partners' liability for professional malpractice is limited to the partnership?
A) General partnership
B) Limited partnership
C) Professional partnership
D) Limited liability partnership
E) Loss limiting partnership

Question

Quizplus · Accepted Answer

If the partners have created a limited liability partnership (LLP), all the partners assume liability for one partner's professional malpractice, but only to the extent of the partnership's assets; the other partners' personal assets cannot be taken.

Which of the Following Is Distinguishable from Other Forms of Partnerships