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LAW (125 Cards)

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Larry is a limited partner in Associated Contractors, a limited partnership. Debts incurred by the firm come due, and the firm cannot pay them. Larry is liable

a. in proportion to the total number of partners in the firm.
b. to no extent.
c. to the extent of his capital contribution.
d. to the full extent of the debts.

c. to the extent of his capital contribution.

Begründung:
liability of a limited partner is limited to the capital contributed -> contrast to the personal liablility of general partners

Tags: Liabilities of limited partners
Source: p.129 1. Absatz nach Überschrift

Flashcard set info:

Author: Elisa

Main topic: Law

Topic: International Law

School / Univ.: Hanze Hogeschool

City: Groningen

Published: 14.02.2010

Tags: Exam Year 1

Card tags:

All cards (125)

? (1)

also see partnership by estopel (1)

Assault and Battery (2)

Business Organization (1)

Business Trust (2)

Chain-Style business operation (2)

Conversion - letzter Absatz (1)

Coporate Financing (1)

Coporate Personnel (1)

Disadvantages ot the sole proprietorship (1)

Dissolution LP (1)

Dissolution of LP (1)

Distributorship (2)

Fact versus Opinion (1)

False imprisonment (1)

Family Limited Liability Partnerships (FLLP) (1)

First Orginazational Meeting (1)

First sentence (2)

Foreign and Alien Coporation (1)

Formation of a Limited Partnership (1)

Formation of a LP (1)

Incorporation procedure (1)

INncorporation Precedure (1)

Joint stock company (2)

Joint venture (2)

last sentence (1)

Liabilities of limited partners (1)

Limited Liability Partnership (LLC) Liability (1)

Limited partners and Managment (1)

LLC (1)

Location Chartering (1)

Partnerships (1)

Payment for the franchise (2)

Payment of the franchise (1)

Preferred Stock (1)

Preferred stocks (1)

Pricing agreement (1)

Processing-Plant arrangement (2)

Profesional Corporation (P.C) (1)

Professional Corporation (1)

Professional Corporation (P.C) (1)

Promoter Liability (Promoter Activities) (1)

Restriction in the Articles of Incorpration (1)

Right of limited partners (1)

Self-defense (1)

Slander of Quality (1)

Slander of Title (1)

Termination of the franchise (2)

The publication requirement (1)

The scope of implied powers (1)

Trespass to Land (1)

Trespass to personal property (2)

Wrongful interfence with a contractual relationship (1)

Wrongful interference with a business relationship (2)

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