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:

Avoid

To keep away from or refrain from something, typically because it is not desired, harmful, or risky.

Honesty

The quality of being truthful, transparent, and free from deceit or fraud.

Integrity

The quality of being honest and having strong moral principles, often regarded as a foundational element of ethical behavior in both personal and professional contexts.

Embellishing

The act of adding decorative details or features to something, often to make it more attractive or interesting; can also mean exaggerating facts.