BUSINESS LAW II

Limited Partnership

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?

6.When you were preparing the converted General Partnership'sArticles of Partnership to Articles of Partnership of a Limited Partner, what are the special features of a limited partnership that you have observed and introduced therein?

7.When it comes to amendments, how amendments in partnerships differ when compared with amendments of corporate documents like Articles of Incorporation of a corporation?

8.Are existing partnerships convertible to corporations? If so, explain how the conversion can be legally done?

9.Can a corporation be converted to partnership? Explain