What is a limited partnership? How is it similar to a general partnership? How is it different?
What will be an ideal response?
A limited partnership is a special form of partnership created by statute. It is similar to a general partnership in that it has one or more general partners who have unlimited liability. It is different from a general partnership in that it has one or more limited partners whose liability is limited to the amount of their respective investments. Limited partners also do not participate in the management of the business as a general rule.
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a. True b. False
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What is the ethical obligation of the paralegal to the court?
What will be an ideal response?
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a. True b. False Indicate whether the statement is true or false