Nell is considering forms of business organization for Optic Center, a medical eye clinic. An advantage of a limited liability partnership is that, depending on the applicable state statute, partners can avoid personal liability for a. their own wrongful acts. b. any partnership obligation. c. none of the choices. d. their own and other partners' wrongful acts.

Question

Business

Janiyah Durham

12 March, 12:15

Nell is considering forms of business organization for Optic Center, a medical eye clinic. An advantage of a limited liability partnership is that, depending on the applicable state statute, partners can avoid personal liability for a. their own wrongful acts. b. any partnership obligation. c. none of the choices. d. their own and other partners' wrongful acts.

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Answers (1)

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Edward Stanley · Answer 1

The correct answer is b) "any partnership obligation"

Explanation:

In other words, if the partnership can't afford to pay the respective debts and credits, the partners are individually responsible to pay for it and can go after personal assets like bank accounts.