Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.What is a general-limited partnership? 2.What is the rationale of the law why limited partnerships are required to affix the word Limited or its abbreviation

1.What is a general-limited partnership?

2.What is the rationale of the law why limited partnerships are required to affix the word "Limited" or its abbreviation "Ltd" as part of the partnership name?

3.Can an existing limited partnership be converted to a general partnership? If so, explain how it can legally be done?

4.Can an existing general partnership be converted to a limited partnership? If so allowed, explain how it can legally be done?

5.Can an existing single proprietorship be converted into partnership? If allowed under existing laws, how shall it be done if it will be converted to a general partnership or limited partnership?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Criminal Law

Authors: Jonathan Herring

11th Edition

1352005336, 978-1352005332

More Books

Students also viewed these Law questions

Question

1 What are the dimensions used in Hofstedes model of culture?

Answered: 1 week ago