In the limited partnership form of carrying on business, the limited partners liability is limited to her

Question:

In the limited partnership form of carrying on business, the limited partner’s liability is limited to her actual or agreed upon contribution to the partnership. To preserve this status, the limited partner must not participate in the management of the partnership business. What do you think is the reason for this prohibition? Can you think of situations where it would be useful for the limited partner to participate in management?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Canadian Business And The Law

ISBN: 9780176795085

7th Edition

Authors: Philip King Dorothy Duplessis, Shannon O Byrne

Question Posted: