Heritage Hills (a land development firm) was organized on July 2, 1975, as a limited partnership, but

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Heritage Hills (a land development firm) was organized on July 2, 1975, as a limited partnership, but the partnership agreement was never properly filed. Heritage Hills went bankrupt, and the bankruptcy trustee sought to recover the debts owed by the partnership from the limited partners. Can he? Explain.
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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Intermediate Accounting 2014 FASB Update

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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