MN Bar Practice Questions - Minnesota Bar Examination Exam

Access More Questions

A limited partnership has one general partner and several limited partners. Which statement accurately describes a limited partner's liability?

Limited partners generally are liable only up to their capital contributions, provided they do not participate in control in a way that imposes liability Limited partners are jointly and severally liable for all partnership debts Limited partners owe unlimited personal liability like general partners Limited partners have no economic interest in the partnership

Correct Answer:

Limited partners generally are liable only up to their capital contributions, provided they do not participate in control in a way that imposes liability

Access more questions from this quiz

Continue to MN Bar Practice Questions - Minnesota Bar Examination Exam for more practice questions and the full quiz experience.

Access More Questions