If a Partner of an LLP Is Not Liable to a Creditor

question 89

Multiple Choice

If a partner of an LLP is not liable to a creditor that the remaining partners are liable to,then he:

• A)must contribute the shortfall.
• B)must contribute based on his interest in the partnership.
• C)cannot be forced to pay the debt.
• D)must split the amount between the other partners and himself.

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Definitions:

U.S. Dollar

The official currency of the United States, widely used as a standard for international transactions.

Foreign Exchange Market

An international platform for trading national currencies with each other.

U.S. Dollar

The official currency of the United States of America, widely used as a global reserve currency.

Foreign Exchange Market

A global marketplace for exchanging national currencies against one another.