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45.
(p. 824)
Limited partnerships are also known as which of the following?
46.
(p. 824)
Which of the following is true regarding the origination of limited partnerships?
47.
(p. 824)
A limited partnership is an agreement between at least ______ general partner[s] and at
least ______ limited partner[s].
48.
(p. 824)
Which of the following is
false
regarding the dissolution of a partnership in Germany?
49.
(p. 826)
According to the Revised Uniform Limited Partnership Act, which of the following is
not
a
reason for which a limited partnership can be dissolved?
50.
(p. 819)
To ensure that a dissolving partner does not create additional liability for the partnership,
which of the following is true regarding notice to be provided to a third party that has provided
credit to a partnership?
51.
(p. 826)
Which of the following is
false
regarding a limited liability company?
52.
(p. 825)
Which of the following is true regarding Matt's entitlement to share in profits?
53.
(p. 825)
Which of the following is true regarding any responsibility of Matt to share in losses?
54.
(p. 825)
Which of the following is true regarding Matt's entitlement to sue on behalf of the
partnership?
55.
(p. 824)
Was George correct that a limited partnership may be created informally through an oral
agreement?
56.
(p. 825)
Are George and Marcy correct in that limited partners have no say regarding the
admission of new partners?
57.
(p. 825)
Which of the following is true regarding the issue of George's father deciding to manage
the partnership?
58.
(p. 815)
What type of partnership was XYZ law firm?
59.
(p. 819)
Which of the following is true regarding whether Wally had actual authority to bind the
partnership in regard to his purchases at the office supply store?
60.
(p. 819)
Which of the following is true regarding whether the law firm is liable for purchases made
by Wally?
61.
(p. 815-816)
List the circumstances under which a partnership may be rightfully dissolved.
62.
(p. 823)
Set forth the order the Uniform Partnership Act establishes for the distribution of
liquidated assets when a partnership is dissolved and has debt.
63.
(p. 826)
Mona and Jill wish to start a partnership to sell hand woven sweaters. Jill's parents would
like to invest, but they do not wish to be subject to liability for losses in excess of their capital
contribution. Jill's mother tells Mona and Jill that if she invests, she expects to have a significant
say in the management of the business. Should Mona, Jill, and Jill's parents enter into a limited
partnership with the parents being limited partners, and why or why not? Would a limited liability
company be a good option, and why or why not?
64.
(p. 817)
Set forth the circumstances under which a partnership may be dissolved by act of the
court.
65.
(p. 824)
How is a limited partnership created and what is the consequence if proper procedures
are not followed?
