Under the Second Wave of the Partial Shield Statute, a Partner

question 28

Multiple Choice

Under the second wave of the partial shield statute, a partner of a limited liability partnership (LLP) would be unlimitedly liable for:

• A) breaches of ordinary contract obligation.
• B) negligent acts.
• C) wrongful acts by employees.
• D) wrongful acts of agents.
• E) malpractice and misconduct of employees.

---

Definitions:

Marketplace

A platform, location, or service where transactions between buyers and sellers are facilitated.

Joint Stock Company

A company whose stock is owned jointly by the shareholders, who have the rights to transfer their shares and are liable only to the extent of their investment.

Shares Of Stock

Represents units of ownership interest in a corporation or financial asset, providing a distribution of profits in the form of dividends.

Partnership Certificates

Documents issued by a partnership that certify ownership of a share in the partnership's profits, losses, and assets.