Asked by Jeannie Howell on May 05, 2024
Verified
A limited partner can force the dissolution of a limited partnership even if the other partners want to continue the business.
Limited Partner
In a limited partnership, a partner who contributes capital to the partnership but has no right to participate in its management and has no liability for partnership debts beyond the amount of her or his investment.
Dissolution
The process of officially ending or dissolving a business, partnership, or marriage, along with the settling of its affairs.
Limited Partnership
A business structure where one or more partners are liable only up to the amount of their investments, while at least one other partner has unlimited liability.
- Grasp the implications of limited partnerships and limited liability partnerships on partner responsibilities and liabilities.
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Learning Objectives
- Grasp the implications of limited partnerships and limited liability partnerships on partner responsibilities and liabilities.
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