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.

Question

Business

Dominick Mckinney

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.

+2

Answers (1)

Know the Answer?

Kyleigh Velazquez · Answer 1

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.

In a partnership, loans taken out by the general partnersare binding on the limited partners.aren't a liability of either the general or limited partnersaren't binding on the limited partners.are null and void.

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.