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Other Partnerships > Limited Liability Partnerships > Flashcards

Limited Liability Partnerships Flashcards

1
Q

Formation

A

Must file state of qualification with Secretary of State.

Name must identify partnership as LLP

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2
Q

Liability of Partners

A

Partner liable for own debts and torts (liable for torts committed by those under their direction.

Partners NOT liable for partnership debts, directly or by way of contribution or indemnification.

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Other Partnerships (4 decks)

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