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13 November, 22:35

A limited partner will be liable for business debts if he or she

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  1. 13 November, 23:27
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    actively manage the business

    Explanation:

    A Limited Partnership is a partnership consisting of a general partner and a limited partner.

    A general partner manages the business and is liable for the business debts and obligations whereas a limited partner has limited liability and he does not participate in management.

    A limited partner will be liable for business debts if he or she actively manage the business.
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