Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Limited Partnerships and Introduction to Corporation | Business Law. TRUE OR FALSE. I need the answers ASAP. Pls. No need long explanations. 6. X, Y
Limited Partnerships and Introduction to Corporation | Business Law.
TRUE OR FALSE. I need the answers ASAP. Pls. No need long explanations.
- 6. X, Y and Z formed a limited partnership under the name XYZ Company Limited. Z is the only limited partner. A year after its formation, Z started actively participating in the day to day affairs of the partnership. Y, a general partner, can seek dissolution of the partnership on account of Z's interference.
- 7. A limited partnership formed under the old Civil Code is governed by the provisions on limited partnership under the New Civil Code.
- 8. Due to an urgency, A, the only general partner in ABC Limited Company, contributed additional capital. The Certificate of Limited Partnership should be amended to reflect the additional capital.
- 9. An assignee, who does not become a substituted limited partner, has no right at all to require any information or account of the partnership transactions or to inspect the partnership books.
- 10. Admission of a general partner always require the consent of all partners whether limited or general.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started