A limited liability partnership is: 1. a partnership agreement which can never be written for a fixed
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A limited liability partnership is:
1. a partnership agreement which can never be written for a fixed life.
2. an agreement where partners face the possibility that their personal assets can be taken from them to satisfy claims on their businesses.
3. less costly to form than sole proprietorships.
4. less constrained than general partnerships because they can raise money from limited partners.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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