Law Questions
Explore questions in the Law category that you can ask Spark.E!
can partnerships own property in the name of the partnership?
limited partners are sometimes called ___ partners
to create a limited partnership, who do you file with?
general partners have ____ ____ to consider the impact of their decisions on the limited partners
1. sharing profits (and losses)2. voice in management (usually equal)3. co-ownership of partnership propertythese are characteristics of a ____ in _____
when not filed with Secretary of State, by default an association of two or more persons to carry on as co-owners as business for profit become a ______
traditionally, if a limited partner exercises too much control, he may have personal liability to those creditors who contract with the partnership, believing him to be a general partnerthey get liability through ____
the default presumption for profit sharing for an LP and LLLP is by...
a corporation can join a partnership as either a _____ or ____ partner
can a limited partnership be sued and sue in its own name?
with a family business, if parents want kids involved but they do not want the kids to have authority, what type of business should they have?
should the name of limited partners be included in the name of the business?
with marshalling of assets, who does the creditor seek recovery from first?
how are General Partnership profits shared?
if the personal assets are not sufficient, the creditor can go to court to get a ____ ____
a charging order has the similar effect of _____
in a general partnership, partners have what kind of liability?
in a general partnership (including an LLP), profits or losses are split ____
traditionally, if a limited partner exercises too much control, he may have ____ ____ to those creditors who contract with the partnership, believing him to be a general partner
if a partner has a personal debt and falls behind on payments, the creditor must go after...