- 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...