Ulan, Maximo and Adonis agreed to form an auditing firm with Ulan as a limited partner. Being

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Ulan, Maximo and Adonis agreed to form an auditing firm with Ulan as a limited partner. Being penniless, Ulan has nothing to contribute but his labor towards the partnership. Is this kind of setup legally possible? Explain why or why not.

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Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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Posted Date: Dec 26, 2023 06:27 AM

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Ulan, Maximo and Adonis agreed to form an auditing firm with Ulan as a limited partner. Being

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In general the role of limited partners in a partnership involves contributing capital to the busine... View the full answer

Smith and Roberson Business Law

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