Assume the football team is set up as a limited partnership Lenny is the only general partner and Sarah and Sam are the only limited partners. The team is sued for negligence because an individual who turned to see the quarterback running naked crashed her car. Which of the following is true?
a) Lenny has unlimited liability and Sarah and Sam have liability limited to their investment in the firm.
b) The only one with liability is the company itself.
c) Lenny, Sarah and Sam all have unlimited liability.
d) Lenny has liability limited to his investment in the firm and Sarah and Sam have unlimited liability.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Assume the football team is set up as a limited partnership Lenny is the only general partner and Sarah and Sam are the only limited ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Nominal gdp is: question 31 options: a. the inflation-adjusted gdp. b. the constant-dollar gdp. c. the real gdp minus depreciation. d. the current-dollar gdp.
Answers (1)
Why do some workers lose their job when the minimum wage is​ increased?
Answers (1)
Mamma's Diner was a small restaurant that was a popular hangout for many Bedford College students, but because of the owner's inability to make the bathroom stalls handicapped accessible for the one wheel-chair student on campus, it was forced to
Answers (1)
The total cost of ownership (TCO) is an estimate of the cost of an item that includes all the costs related to the procurement and use of an item, but does not include any of the costs related to disposing of the item after it is no longer useful.
Answers (1)
Based on the following information, what is the balance on the current account? Exports of goods and services = $12 billion Imports of goods and services = $14 billion Net income on investments = minus $4 billion Net transfers =
Answers (2)
New Questions in Business
The managers of Rug Emporium, a large rug store, decide to have a sale. The store manager works with the advertising department to make the public aware of the sale, with department managers to schedule enough salespeople to handle the increased
Answers (1)
Brief Exercise 8-06 The cash register tape for Bluestem Industries reported sales of $6,871.50. Record the journal entry that would be necessary for each of the following situations. (a) Cash to be accounted for exceeds cash on hand by $50.75.
Answers (1)
When you go to a food store, how many items do you typically buy you did not intend to buy? how might this affect a food budget?
Answers (1)
Suppose the government imposes regulations that reduce the amount of pollution in the air. In four or more sentences, define incentive, explain the government's incentive for this regulation and how effective this process is.
Answers (1)
Your bank offers a savings account that pays 3.5% interest, compounded annually. How much will $500 invested today be worth at the end of 25 years? a. $1,122.54b. $1,181.62c. $1,240.70d. $1,302.74e. $1,367.88
Answers (1)