Operations Flashcards
1
Q
Can a General Partnership offer liability protection to its general partners?
A
No. General partners have full liability.
2
Q
Can a Limited Partnership offer liability protection to its general partners and limited partners?
A
None to general partners.
Yes for limited partners.
3
Q
Can a Limited Liability Partnership offer liability protection to its partners?
A
It provides protection against torts committed by other partners, but none against general liability.
