KS Bar Practice Questions - Kansas Bar Examination Exam

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A general partner in a limited partnership and the limited partners differ in liability exposure. Under the Revised Uniform Limited Partnership Act, a limited partner's liability for partnership obligations is generally:

Unlimited, like a general partner Determined solely by the partnership's profits Joint and several with the general partner for all debts Limited to the amount of the limited partner's capital contribution

Correct Answer:

Limited to the amount of the limited partner's capital contribution

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