asked 192k views
3 votes
A limited partner will be liable for business debts if he or she

asked
User Ebyhr
by
8.5k points

1 Answer

4 votes

Answer:

actively manage the business

Step-by-step explanation:

A Limited Partnership is a partnership consisting of a general partner and a limited partner.

A general partner manages the business and is liable for the business debts and obligations whereas a limited partner has limited liability and he does not participate in management.

A limited partner will be liable for business debts if he or she actively manage the business.

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User Pcx
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8.4k points
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