Jakob wants to start a banana slushie business, but he has no money. His friend Dylan agrees to fund the business as long as he can be the limited partner. Jakob agrees and sets up a limited partnership with himself as the general partner. Later, the limited partnership gets sued because the slushies are too cold (one of them spilled on a customer, freezing her legs). If the limited partnership is found liable and cannot pay the full amount owed .

Group of answer choices

Dylan will not be liable, but Jakob will

Jakob will not be personally liable, but Dylan will

neither Dylan nor Jakob will be held liable because of the corporate veil

Jakob and Dylan will both be personally liable since they are both partners

Flag question: Question 2Question 24 pts

Hartman and Pearson were partners. Unknown to Hartman, Pearson defrauded customers. The partnership benefited from the fraud. The creditors sue Pearson, the partnership, and Hartman for unpaid amounts. Hartman .

Group of answer choices

must pay because he is liable as a general partner for any of Pearson's activities

is not required to pay because he didn't know about Pearson's activities

must pay because he is liable as a general partner for Pearson's actions that are committed by Pearson in the scope of her authority as a partner

is not required to pay because the debt is partnership debt, not Hartman's personal debt

Flag question: Question 3Question 34 pts

In 1998 Patty and Selma started Bitter Spinsters, a general partnership, with no partnership agreement. A few years later, Selma decidesto dissolve the entity and tries to take ashare of the profits. Patty sues Selma for an equal division of the profits. Who will most likely prevail in the lawsuit?

Group of answer choices

Selma, because the Articles of Organization were invalid.

Selma, because the firm is an LLC and profits should be divided according to capital contributions.

Patty, because Selma shouldn't have dissolved the entity.

Patty, because in the absence of a written agreement, the court will require equal division of profits.