Limited Partnerships and Introduction to Corporation | Business Law.

TRUE OR FALSE. I need the answers ASAP. Pls. No need long explanations.

• 21. A limited partner can also be a general partner.
• 22. ABC Company limited is a limited partnership with A, as its only limited partner. Since its inception in early 2020, it has been operating at a loss and had incurred more liabilities than its assets. A, on the other hand had incurred personal liabilities majority from its sole creditor Mr. Z. Mr. Z can apply for a charging order should it win a case against A.
• 23. The only general partner in a limited partnership is disqualified from engaging in any business venture.
• 24. A limited partner cannot receive or hold as collateral security any partnership property. However, a general partner can do the same.
• 25. In a suit against a limited partnership, third persons can never implead a limited partner.