Each question is hypothetical and is based in the U.S. There is no other data or graphic link and is not an "incomplete question"

1.Edna, Frank and Gretchen decided to form a limited liability partnership (LLP) for the purpose of owning and managing an apartment building in Cullowhee, NC. Approximately two years after the formation of the LLP, Zelda, a tenant in the building, was severely injured in an accident in one of the building's elevators. The elevator was not properly maintained and the result was the elevator fell 4 stories with Zelda inside. Zelda's claim against the LLP is for approximately $5 million. The LLP's assets, however, are only approximately $1 million.

In forming the LLP, it was decided and agreed that Catamount Realtors LLC would serve as the manager of the apartment building.

A.Are Edna, Frank and Gretchen personal liability for Zelda's claim? Why or why not? Explain.

B.Is the LLP liable? Explain.

[Hint: LLPs and liability of limited liability partners]