In a Limited Partnership,at Least One Partner

question 59

Multiple Choice

In a limited partnership,at least one partner

• A) Has unlimited liability
• B) Has limited liability
• C) Has raised 50 percent more capital than the other partners
• D) Has given up any tax advantages

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Definitions:

Justifiably Restrains

Legitimate limitation or control of actions based on legal or moral grounds.

Wrongful Conduct

Actions or behaviors that are illegal or morally incorrect, often resulting in harm or injury to others.

Law of Torts

A body of rights, obligations, and remedies that is applied by courts in civil proceedings to provide relief for persons who have suffered harm from the wrongful acts of others.

Punitive Damages

Money damages that may be awarded to a plaintiff to punish the defendant and deter future similar conduct.