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Author Question: What is a general partnership? What will be an ideal response? ... (Read 19 times)

Davideckstein7

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on: Aug 3, 2018
What is a general partnership?
 
  What will be an ideal response?

Question 2

The exhaustion of remedies doctrine requires that state and administrative remedies be exhausted before a  1983 action may be filed.
 
  a. True
  b. False


Jane

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Reply #1 on: Aug 3, 2018
Answer to Question 1

A general partnership is a voluntary association of two or more individuals or legal entities for carrying on a business as co-owners, for a profit. General partners share in the profits of the partnership in proportion to their ownership interests. Likewise, general partners are personally liable for the debts and obligations of the partnership.

Answer to Question 2

b


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