Ask Question
10 June, 23:21

In a partnership, loans taken out by the general partners

are binding on the limited partners.

aren't a liability of either the general or limited partners

aren't binding on the limited partners.

are null and void.

+1
Answers (1)
  1. 11 June, 00:33
    0
    In a partnership, loans taken out by the general partners aren't binding on the limited partners. If a general partner takes out a loan, it effects all general partners no matter who took out the loan. A limited partner means they have limited liability therefor they are not responsible for the debts and obligations that the general partners are.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In a partnership, loans taken out by the general partners are binding on the limited partners. aren't a liability of either the general or ...” 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