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22 August, 23:42

In a partnership, loans taken out by the general partners

are binding on the limited partners.

aren't a liability of either the general or limited partners

aren't binding on the limited partners.

are null and void.

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Answers (1)
  1. 22 August, 23:57
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    In a partnership, loans taken out by the general partners aren't binding on the limited partners. If a general partner takes out a loan, it effects all general partners no matter who took out the loan. A limited partner means they have limited liability therefor they are not responsible for the debts and obligations that the general partners are.
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