There Are No Upper Limits on the Number of General

question 53

True/False

There are no upper limits on the number of general or limited partners allowed in a limited partnership.

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Definitions:

Liability for Negligence

The legal responsibility for harm caused by failing to act as a reasonable person would under similar circumstances.

Third Party Beneficiaries

Individuals or entities who are not parties to a contract but stand to benefit from its execution or its terms.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis.

Client

A client is an individual or entity that engages the professional services or advice of another, establishing a professional relationship.