Question: Explain the difference between an LP and an LLP.

Explain the difference between an LP and an LLP.

Step by Step Solution

★★★★★

3.49 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

LP and LLP mean almost the same thing they both are business models where LP stands fo... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

244-L-B-L-L-E (2052).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!

Q:

Explain the difference between an accelerated depreciation method and one that is not accelerated. Give an example of each.

Q:

Explain the difference between an experiment that employs a completely randomized design and one that employs a randomized block design.

Q:

Explain the difference between an absolute minimum and a local minimum.

Q:

Which of the following statements best describes the main difference between an LP and an LLP ? Group of answer choices An LP has two types of partners with different liability protections, while an...

Q:

Question #23 . a. Explain the difference between an LP and an LLLP. b. Explain under what circumstances a partners holding period in a partnership interest tacks upon formation of the partnership.

Q:

Explain the difference between a LP and a LLLP regarding personal liability general and limited partners when insurance is not enough to cover the claim claim ( e . g . , fraud ) is not covered by...

Q:

A. Under the statute of frauds, a lease of real property must be in writing if it is for: A) residential property. B) more than one year. C) commercial property. D) a month-to-month agreement. E)...

Q:

Within the tax jurisdiction of the Republic of Singapore, determine Anthony's tax amount. (Please refer to case study for question) CASE STUDY - Mr & Mrs Anthony Chan Soon Thoong Anthony is 35 years...

Q:

The first of the entities that we will examine that do afford the business operator some protection from personal liability will be the LP. The LP is an entity which should never be confused with its...

Q:

The first of the entities that we will examine that do afford the business operator some protection from personal liability will be the LP. The LP is an entity which should never be confused with its...

Q:

a. Why does the Mirror Image rule still apply in certain business scenarios? b. Why has the UCC largely discarded the mirror image rule, while it still persists in various parts of the common law? c....

Q:

Investors are increasingly attempting to analyze the ESG performance of their investments. To assist with this process, financial data providers have started assigning company ESG scores. MSCI is one...

Q:

Krell Industries has a share price of $ 2 1 . 3 1 today. If Krell is expected to pay a dividend of $ 0 . 9 9 this year and its stock price is expected to grow to $ 2 4 . 1 5 at the end of the year,...

Q:

What is asset allocation?

Q:

Burnett was a janitor for Habitat, a property management business. His job required him to lift heavy objects. In October 2003, Burnett told Polo, his supervisor, that he had a medical problem. Polo...

Q:

In the fall of 2001, the Metropolitan Government of Nashville and Davidson County (Metro) hired Dr. Gene Hughes as the employee relations director for the Metro School District. In May 2002, an...

Q:

Assuming the facts alleged by the plaintiffs in their complaint are true, has U.S. Sugar acted legally? Has it acted ethically?

Q:

You are long 10 gold futures contracts, established at an initial settle price of $1,610 per ounce, where each contract represents 100 ounces. Over the subsequent four trading days, gold settles at...

Q:

You are currently trying to decide between two cost structures for your business: one that has a greater proportion of short-term fixed costs and another that is more heavily weighted to variable...

Q:

The CEO of Garneau Cinemas is considering making a movie and must decide between a comedy and a thriller - It doesn't have the production space to make both. The comedy is expected to cost 525...