In the Business Associations context, what is the difference between a Limited Liability Partnership (LLP) and a Limited Liability Limited Partnership (LLLP), why would someone want to choose one over the other or when is each of them the most appropriate form of business organization, what type of partners do LLPs have? are they all general partners in the LLLP?  what type of partners do LLLPs have? are they all general partners? who manages the business? what is their liability for each type of business? and how do the agency rules apply to LLPs and LLLPs? which partners are agents and which are not? Does dissociation of a partner cause the dissolution of the partnership?

Answer rating: 100% (QA)

In the con text of Business Associations the main differences between a Limited Liability Partnershi... View the full answer