Which Statement Is True Regarding James's Entitlement to Sue on Behalf

question 75

Multiple Choice

Which statement is true regarding James's entitlement to sue on behalf of the partnership?

• A)If the general partners fail to bring a suit on behalf of the limited partnership,the limited partner can bring suit but only after obtaining the permission of all general partners.
• B)A limited partner has a right to bring suit on behalf of the partnership only if the litigation is in an amount of over $75,000 and then only with the permission of all general partners.
• C)A limited partner has no rights to bring suit on behalf of the partnership.
• D)If the general partners fail to bring a suit on behalf of the limited partnership,the limited partner can bring suit but only after obtaining the permission of a majority of the general partners.
• E)If the general partners fail to bring a suit on behalf of the limited partnership,the limited partner can bring the suit.

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