If Jack Contributed $1,000 as a Limited Partner and Signed

question 59

Multiple Choice

If Jack contributed $1,000 as a limited partner and signed a certificate of limited partnership, but the certificate was filed in the wrong office:

• A)Jack may avoid liability as a general partner if he withdraws from the business and quickly renounces future profits.
• B)Jack is not a partner at all and may withdraw his contribution.
• C)Jack is a general partner for all purposes.
• D)Jack may become a limited partner by quickly filing an affidavit stating he was not responsible for the erroneous filing.

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Definitions:

Developmental Stages

Refers to the distinct phases of growth and development that an individual goes through from birth to adulthood, marked by specific milestones in physical, emotional, cognitive, and social abilities.

Social Environment

Encompasses the immediate physical surroundings, social relationships, and cultural milieus within which defined groups of people function and interact.

Cognitive Capacities

The mental abilities and processes related to knowledge, such as memory, reasoning, problem-solving, and abstract thinking.

Identity Development

The process through which individuals form a distinct sense of self through exploring and defining their personal values, beliefs, and goals.