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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.

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