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Puentes is a limited partner of ABC, LP . He paid $ 3 0 , 0 0 0 for his interest and he also loaned
Puentes is a limited partner of ABC, LP He paid $ for his interest and he also loaned the firm $ The firm failed. Upon dissolution and liquidation
Question Select one:
a
Puentes will get his loan repaid pro rata along with other creditors
b
if any assets remain, the last to be distributed will be the general partners profits.
c
if Puentes holds partnership property as collateral, he can resort to it to satisfy his claim if partnership assets are insufficient to meet creditors claim
d
Puentes will get repaid, along with other limited partners, in respect to his capital and loan after all other creditors have been paid.
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