Question
15.In a limited liability partnership (LLP) a.a partner may avoid liability for the malpractice of other partners. b.a partner who commits malpractice is automatically expelled
15.In a limited liability partnership (LLP)
a.a partner may avoid liability for the malpractice of other partners.
b.a partner who commits malpractice is automatically expelled from the partnership under the UPA.
c.the maximum number of partners is limited by the law of most states.
d.it is deemed unethical to employ non-professionals.
17.A limited liability company
a.is presumed to be member managed.
b.is presumed to be manager managed.
c.may not have members who are foreign nationals under federal law.
d.can have a duration of no more than 25 years under the law of most states.
19.A syndicate
a.cannot be incorporated under the law of most states.
b.is a type of criminal(organized crime) organization.
c.is an investment group formed to finance a particular project.
d.is an income tax avoidance device.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started