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Author Question: What is a limited partnership? How is it similar to a general partnership? How is it different? ... (Read 66 times)

lunatika

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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


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billybob123

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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

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Reply 2 on: Aug 3, 2018
YES! Correct, THANKS for helping me on my review

shailee

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

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