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Persons who are not partners under appropriate circumstances may be held liable to
third persons as though they were partners.
The UCC statute of limitations applies when a party is seeking recovery on strict tort
liability, fraud or negligence.
In terms of defamation liability, members of the United States Congress enjoy an
absolute privilege when they are speaking on the floor of the Senate or the House of
Representatives.
Under the Revised Uniform Limited Partnership Act, limited partners may engage in
certain €safe harbor€ activities without losing their protection from liability. These
activities include being a contractor for, or an agent or employee of, the limited
partnership or of a general partner.
The amount of credit specified in a letter of credit must be taken by the beneficiary in
the form of a lump-sum payment.
