Social Studies, 01.12.2020 02:30 30valgolden

How does the owner's liability to losses differ in a general partnership and a limited partnership?

Answers: 1

Show answers

Answers

A limited partnership is a type of partnership that consists of at least one general partner and at least one limited partner. A limited liability partnership does not have a general partner, since every partner in an LLP is given the ability to take part in the management of the company.

history of Limited Partnerships and LLPs

Limited partnerships were popular during the 1970s and 1980s. Today, many business owners form limited partnerships for films and other projects that will last for a short period of time. Limited liability partnerships are relatively new in comparison to limited partnerships. LLPs became popular in the 1990s, around the same time that limited liability companies became a popular formation choice among business owners.

Structure of Limited Partnerships and LLPs

In a limited partnership, the general partner is responsible for managing the company's day-to-day activities. The limited partner in a limited partnership does not participate in making managerial decisions for the business. In a limited partnership, the limited partner is more like a silent partner that has invested in the company. In a limited liability partnership, all partners of the company are allowed to make management decisions for the company.

In addition, general partners of a limited partnership may be limited liability companies or corporations, whereas LLCs and corporations may not be partners in an LLP.

Liability Protection Differences

If you're operating as a limited partnership, the general partner has unlimited liability for company losses and debts, while a limited partner has limited liability protection against company debts and losses. This means the general partner may lose his home and other personal assets because of losses and obligations that occur as a result of operating the business. Limited partners have personal asset protection against company obligations and debts.

In an LLP, all partners have limited liability protection against company obligations and debts. In addition, partners in an LLP have limited liability protection against malpractice suits that stem from another partner's negligent acts.

Explanation:

Answer from: Quest

texas governor sam houston opposed secession, but was unable to prevent it. in this speech, given prior to lincoln's election, he presents the argument that slavery would be safer within the united states than outside of it. it was a prescient argument, and one held by several other southern leaders.

have a good day pls vote me brailyest

Answer from: Quest

The answer to that would be prussia which would later be germany

Another question on Social Studies

Social Studies, 22.06.2019 03:00

When comparing the northern and southern hemisphere, why are the peak maximum and minimum values of insolation at different times of the year? specifically, why is the peak max of incoming solar radiation in june for the northern hemisphere, but in december for the southern hemisphere? pick the best, most complete answer. because of variations in the incident angle of solar radiation, due to the tilt of earth's axis, the northern hemisphere receives more direct solar radiation in june while the southern hemisphere receives less direct solar radiation. the reverse is true in december. because of earth's tilt, as the earth progresses in its revolution around the sun, the northern hemisphere is relatively closer to the sun in june while the southern hemisphere is relatively farther from the sun. the reverse is true in december. because of earth's elliptical orbit, the northern hemisphere is relatively closer to the sun in june/july while the southern hemisphere is relatively farther from the sun. the reverse is true in december. because of variations in the incident angle of solar radiation and the length of day, due to the tilt of earth's axis, the northern hemisphere receives more direct solar radiation and has longer daylight hours in june while the southern hemisphere receives less direct solar radiation and shorter daylight hours. the reverse is true in december.

Answers: 3

Answer

Social Studies, 22.06.2019 09:50

Astudy that involves interviews of adults is eligible for expedited review. the researcher wants to add an adolescent population (aged 12 to 17) to the study and has designed a parental permission and assent process. no additional changes are planned. which of the following statements about review of the revised protocol is accurate? the research would only be eligible for expedited review if the adolescents are capable of understanding the same consent forms used for the adult population.the research would only be eligible for expedited review if the adolescents have been declared to be emancipated minors.the new research would need full review by a convened irb because children are a protected population.unless the nature of the questions would raise the level of risk to > minimal for adolescents, the research would still qualify for expedited review.

Answers: 1

Answer

Social Studies, 22.06.2019 13:30

George herbert mead argued that the self develops through interactions with others. do you think that your personality or self developed through your interactions with others (parents, friends, teachers) or was it something that you were born with? give an example from your life to support your view.

Answers: 3

Answer

Social Studies, 22.06.2019 14:00