A Limited Partner Has a Right to Bring an Action

question 49

True/False

A limited partner has a right to bring an action on the behalf of a limited partnership to recover a judgment in its favor if the general partners having authority to do so have refused to bring the action.

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Definitions:

Price Control

The regulation or limitation of prices by governmental laws or policies, typically to control inflation, stabilize the economy, or ensure affordability of essential goods.

Economic Rent

Earnings in excess of the minimum required to keep a factor of production in its current use, often derived from unique advantages.

Demand For Land

The economic desire or need for land for various purposes such as agriculture, residential, commercial, or industrial developments.

Resource

An economic input used to produce goods and services, such as labor, capital, and natural resources.