Agnes, Bertus, and Camille formed a limited partnership to operate a white-water rafting adventure business on the Ottawa River. The partnership was registered with the appropriate government office and each of the partners contributed

$50,000

in start-up capital. Agnes and Bertus were named the general partners responsible for the day-to-day management of the business. Camille was designated a limited partner responsible for long-range planning and policy. On one of the adventures, a raft overturned and a customer. Ming, was seriously injured. At the time of the accident, Agnes was negligently operating the raft. The partnership does not have sufficient liability insurance to cover the extent of Ming's injuries.\ a. What is a limited partnership and how does this differ from a general partnership? Provide your own examples to demonstrate the difference between them. (3 marks)\ b. Who is potentially liable for Ming's injuries? Explain. (3 marks)

Agnes, Bertus, and Camille formed a limited partnership to operate a white-water rafting adventure business on the Ottawa River. The partnership was registered with the appropriate government office and each of the partners contributed $50,000 in start-up capital. Agnes and Bertus were named the general partners responsible for the day-to-day management of the business. Camille was designated a limited partner responsible for long-range planning and policy. On one of the adventures, a raft overturned and a customer, Ming, was seriously injured. At the time of the accident, Agnes was negligently operating the raft. The partnership does not have sufficient liability insurance to cover the extent of Ming's injuries. a. What is a limited partnership and how does this differ from a general partnership? Provide your OWn examples to demonstrate the difference between them. ( 3 marks) b. Who is potentially liable for Ming's injuries? Explain