Question: 15.In a limited liability partnership (LLP) a.a partner may avoid liability for the malpractice of other partners. b.a partner who commits malpractice is automatically expelled
15.In a limited liability partnership (LLP)
a.a partner may avoid liability for the malpractice of other partners.
b.a partner who commits malpractice is automatically expelled from the partnership under the UPA.
c.the maximum number of partners is limited by the law of most states.
d.it is deemed unethical to employ non-professionals.
17.A limited liability company
a.is presumed to be member managed.
b.is presumed to be manager managed.
c.may not have members who are foreign nationals under federal law.
d.can have a duration of no more than 25 years under the law of most states.
19.A syndicate
a.cannot be incorporated under the law of most states.
b.is a type of criminal(organized crime) organization.
c.is an investment group formed to finance a particular project.
d.is an income tax avoidance device.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
