Question: Virgina Mattson decides to form a limited partnership with herself
Virgina Mattson decides to form a limited partnership with herself as the sole general partner and with 10 friends and associates as the limited partners. She chooses the limited partnership form, because its default rules clearly grant sole management rights to her, the only general partner. Mattson is concerned, however, about having personal liability on contracts she signs on behalf of the limited partnership. What should she do to limit her personal liability for the obligations of the business to the amount of her capital contribution?
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