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Coastal Resorts LLLP is a limited liability limited partnership. In terms of their liability for the obligations of the firm, Coastal's general partners have, in

Coastal Resorts LLLP is a limited liability limited partnership. In terms of their liability for the obligations of the firm, Coastal's general partners have, in relation to the limited partners,

A.

no liability.

B.

more liability.

C.

the same liability.

D.

some, but less, liability.

Hal is a limited partner in El Dorado Mines, a limited partnership. Hal wants to assign his interest in the firm to Ira. The assignment would result in

A.

dissolution of the firm, imposing liability on Hal to the firm's creditors.

B.

none of the other answers.

C.

dissolution of the firm, with automatic formation of a new limited partnership.

D.

dissolution of the firm, requiring a distribution of the assets.

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