A Partnership That Has Two Classes of Partners, General and Limited

question 75

Multiple Choice

A partnership that has two classes of partners, general and limited, where the limited partners have no personal liability beyond the amounts they invest in the partnership, and no active role in the partnership, except as specified in the partnership agreement is a:

• A) Limited liability company.
• B) Limited partnership.
• C) Mutual agency partnership.
• D) Limited liability partnership.
• E) General partnership.

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Definitions:

Breach of Confidence

An unauthorized use or disclosure of confidential information that was shared in a trusted relationship.

Secret Research Data

Confidential information generated from scientific or academic studies that is not disclosed to the public.

Injunction

A court order requiring an individual or entity to do or cease doing a specific action.

Self-Defence

A legal defense where an individual uses reasonable force to protect themselves from physical harm or threat of harm by another person.