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LAW (125 Cards)

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Ted and Wally are limited partners in T&W Enterprises, a limited partnership. To avoid personal liability for partnership obligations, they must not

a. acquire an interest in the firm.
b. contribute cash or other property to the firm.
c. undertake any managerial responsibilities.
d. all of the above.

c. undertake any managerial responsibilities.

Begründung:
Limited partners enjoy limited liability so long as they don't participate in managment

Tags: Limited partners and Managment
Source: p. 130, 1. Satz 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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