Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 35, Problem 17CP
Summary Introduction
To discuss: Decision of undertaking BFR contract favours to person L, K & company B.
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What is the nature of liability of limited partners as to limited partnership debts or obligations?
A. They are liable up to the extent of their capital contribution only
B. They are liable pro-rata up to the extent of their separate assets after the partnership assets are exhausted
C. They are liable pro-rata up to the extent of their capital contribution only
D. They are liable equally up to the extent of their separate assets after the partnership assets are exhausted
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Smith and Roberson’s Business Law
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