Unanimous Written Consent of All Partners Is Required to Add

question 26

True/False

Unanimous written consent of all partners is required to add new limited partners to a limited partnership, unless the partnership agreement provides otherwise.

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Definitions:

Loan

A borrowed sum of money that is expected to be paid back with interest.

Investment

Distributing capital or resources with the goal of achieving financial gain or income.

Annually Compounded

Pertaining to the calculation and addition of interest to the principal sum once a year, affecting overall growth.

Successive Years

Consecutive years following one immediately after the other.