Discuss when a limited partner does or does not have the following rights or powers: (a) To
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(a) To assign his interest in the limited partnership,
(b) To receive repayment of loans made to the partnership on a pro rata basis with general creditors,
(c) To manage the affairs of the limited partnership,
(d) To receive his share of the profits before the general partners receive their shares of the profits, and
(e) To dissolve the partnership upon his withdrawing from the partnership.
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...
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Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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