Under the Default Rules of the ULPA,a Limited Partner Who

question 2

Multiple Choice

Under the default rules of the ULPA,a limited partner who wishes to withdraw from a limited partnership has:

• A)the power but not the right to withdraw.
• B)the right but not the power to withdraw.
• C)neither the power nor the right to withdraw.
• D)both the power and the right to withdraw.

---

Definitions:

Formal Authority

Power or right granted to an individual or organization to make decisions, issue commands, and enforce obedience, typically within a hierarchical structure.

Socially Constructed Leadership

Leadership viewed as a social construct, emphasizing the roles of social interactions and perceptions in defining who is considered a leader and what leadership means in different contexts.

Relational Interactions

The dynamic process of engagement between two or more individuals, affecting their relationship over time.

Leader-member Exchange Theory

A theory that focuses on the two-way (dyadic) relationship between leaders and followers, emphasizing that the quality of this relationship influences outcomes.