Which of the Following Is True About the Effect of LLP

question 47

Multiple Choice

Which of the following is true about the effect of LLP statutes after appointment of a new partner?

• A)RUPA provides that the new partner has full liability for the LLP's obligations.
• B)The former partners will be personally responsible on committing a malpractice.
• C)For obligations incurred before his admission,the new partner may not be held liable.
• D)LLP partnership agreements often change the RUPA rule about a new partner's liability.

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Definitions:

Labor Racketeering

The involvement of organized crime in the manipulation and exploitation of labor unions and their members, often for personal profit.

Professional Arsonists

Individuals who deliberately set fires for monetary gain, as a form of vandalism, or for other malicious reasons, often skilled and knowledgeable in their methods.

Corruption Of Public Officials

The misuse of power by government officials for illegitimate private gain, including bribery, fraud, and embezzlement.

Counterfeit Albums

Illegally produced copies of music albums that aim to mimic the original product for fraudulent sale.