Ulrich is a general partner and Lee and Carol are limited partners in GLC Associates, a limited

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Ulrich is a general partner and Lee and Carol are limited partners in GLC Associates, a limited partnership.

Lee and Carol

a. have fewer managerial powers than Ulrich.

b. cannot sue on behalf of the firm if Ulrich refuses to do so.

c. are personally liable for the debts of the firm, unlike Ulrich.

d. risk nothing if they participate in the management of the partnership.

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Business Law Text And Exercises

ISBN: 9780357717417

10th Edition

Authors: Roger LeRoy Miller, William E. Hollowell

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Question Posted: Feb 26, 2024 09:01 AM

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Ulrich is a general partner and Lee and Carol are limited partners in GLC Associates, a limited

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Business Law Text And Exercises

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