Jim, Rob and Emily are partners in a limited liability partnership where they practise law. Jim's initial contribution was $30,000, Rob's was $20,000 and Emily's was $10,000. The partners agree that profits and losses will be shared in proportion to their capital contributions. Jim is sued $60,000 for negligence. How much can he collect from Rob?

A) $60,000
B) $30,000
C) $20,000
D) $10,000
E) Nothing

Limited Liability Partnership

A partnership where some or all partners have limited liabilities, meaning they are not personally responsible for the debts of the business.

Capital Contributions

Funds or assets contributed to a partnership or corporation by its owners or partners to support its operations or finance its objectives.

Negligence

The failure to exercise the care that a reasonably prudent person would exercise in like circumstances, resulting in harm or damage to another.