Virgina Mattson decides to form a limited partnership with herself as the sole general partner and with

Question:

Virgina Mattson decides to form a limited with herself as the sole general partner and with 10 friends and associates as the limited partners. She chooses the limited 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 What should she do to limit her personal liability for the obligations of the business to the amount of her capital contribution?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...