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Fred and Ginger are the limited partners of a limited partnership called Premium Developers, Ltd . Each invests $ 2 0 , 0 0 0
Fred and Ginger are the limited partners of a limited partnership called Premium Developers, Ltd Each invests $ in the limited partnership. Premium Developers, Ltd borrows $ million from American Bank. After two years, the limited partnership has spent all of its capital, has no assets, and goes bankrupt, still owing American Bank $ million of unpaid debt. In this case, Fred and Ginger each lose their $ capital investment but are not personally liable for the $ million debt owed by the limited partnership to American Bank.Fred and Ginger have which of the following?Limited liabilityArticles of limited liability limited partnershipA personal guaranteeUnlimited liabilityIDON'T KNOW YET
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