This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is a limited partnership? How is it similar to a general partnership? How is it different? ... (Read 53 times)

lunatika

  • Hero Member
  • *****
  • Posts: 548
on: Aug 3, 2018
What is a limited partnership? How is it similar to a general partnership? How is it different?
 
  What will be an ideal response?

Question 2

Peter loaned his car to his best friend, Jean. Jean, texting while driving, negligently sideswipes the car in the lane next to hers. Peter can be held liable for Jean's negligence under
 
  a. the doctrine of respondeat superior
  b. an automobile consent statute
  c. joint enterprise liability
  d. the family purpose doctrine


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

billybob123

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Aug 3, 2018
Answer to Question 1

A limited partnership is a special form of partnership created by statute. It is similar to a general partnership in that it has one or more general partners who have unlimited liability. It is different from a general partnership in that it has one or more limited partners whose liability is limited to the amount of their respective investments. Limited partners also do not participate in the management of the business as a general rule.

Answer to Question 2

b


lunatika

  • Member
  • Posts: 548
Reply 2 on: Aug 3, 2018
Excellent

carlsona147

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

An individual's performance can be limited by environmental conditions, such as temperature. Ac An individual's performance can be limited by environmental conditions, such as temperature. Ac
Temperament refers to stable differences in the emotional reactions of different children to similar ... Temperament refers to stable differences in the emotional reactions of different children to similar ...
In the box on upward social mobility on page 82, we discussed how Latinos face a similar situation. ... In the box on upward social mobility on page 82, we discussed how Latinos face a similar situation. ...
Since 1991, General Motors engines have been equipped with slightly (1/8 inch or 3 mm) longer spark ... Since 1991, General Motors engines have been equipped with slightly (1/8 inch or 3 mm) longer spark ...
Determine the nominal annual rate of interest of the following ordinary general annuity. Determine the nominal annual rate of interest of the following ordinary general annuity.
Similar-looking, related species that are native to distant geographic realms Similar-looking, related species that are native to distant geographic realms
Video: Graded potentials - electrical characteristics and types

For a complete list of videos, visit our video library