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Author Question: What is an important aspect of a limited liability partnership? (Read 49 times)

DyllonKazuo

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What is an important aspect of a limited liability partnership?
◦ It is the same as a limited partnership where the general partner has unlimited liability.
◦ A partner has unlimited liability arising from his or her own acts of negligence or misconduct or similar acts of any person under his or her direct supervision, but does not have unlimited liability in other matters.
◦ All partners have limited liability regarding all partnership activities.
◦ All partners have unlimited liability.


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Marked as best answer by DyllonKazuo on Sep 13, 2020

Sierray

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DyllonKazuo

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Reply 2 on: Sep 13, 2020
Wow, this really help


laurnthompson

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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