1. Kyle has been asked to join a new partnership consisting of Kenny, Cartman, and Stan called South Park Lemon (SPL). SPL operates several lemonade stands at a nearby college campus. Kyle wishes to invest, but he is independently wealthy and does not want to risk losing any of his assets.

What can Kyle do to participate in the partnership, but not risk any of his personal assets other than the amount he wants to invest?

1. working partner
2. silent partner
3. limited partner
4. general partner

2. Kyle decides not to join SPL. SPL partnership agreement states that Kenny and Stan are both general partners and Cartman is a limited partner. SPL sales are doing well and the partners decide to expand their business, but the Covid-19 hits. Due to over expansion, SPL owed more money than it was making on lemonade sales. Cartman devises a plan to borrow money to do more advertising. Without letting any of his partners know, Cartman borrows $100,000 from the bank and uses the money to put up signs in sport stadiums. However, because there are no people attending sports stadium due to the crowd situation, the advertisements have no effect on the sale of lemonade. The Bank is looking to get the money it loaned Cartman back, but Cartman ran away.

Who are liable for the loan?

1. Kenny and Stan only
2. Kenny, Stan, and Cartman
3. Cartman only
4. SPL only