John and George have been talking about going into business together. John wants the business as an investment and has the money necessary to set it up, but wants no responsibility and little liability. On the other hand, George wants to run the business and is prepared to accept the liability that goes with it. In this case, the agreement that John and George will enter into to do business together is 1. a limited partnership agrooment 2. a shareholders agreement 3. a limited liability partnership agreement. 4, a trust agreement QUESTION 4 Fred is a partner in a land development partnership. He has learned independently of an opportunity to pursue a land development project with Nelly. Nelly refuses to be involved in business with Fred if he associates his partnership in the project. Nelly will do business with Fred only if he is Independent of his partners. Fred will have no liability to his partners if 1. he ensures that anything he does on the project is outside office hours. 2 none of the above 3. he keeps the opportunity secret 4. he is careful to inform any third parties with whom he and Nelly do business that he is not acting on behalf of the partnership