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Regarding (1) contractual liability claims (i.e. trade accounts payable) and (2) malpractice claims against the entity, select the extent to which personal assets of

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Regarding (1) contractual liability claims (i.e. trade accounts payable) and (2) malpractice claims against the entity, select the extent to which personal assets of a general partner, limited partner, or member of an LLC are exposed. a. General Partner in a General Partnership Contractual Liability: Unlimited Malpractice Liability: Unlimited b. General Partner in a Limited Partnership C. Contractual Liability: Limited Malpractice Liability: Not applicable Limited Partner in a Limited Partnership Contractual Liability: Unlimited Malpractice Liability: Unlimited d. General Partner in an LLP Contractual Liability: Unlimited in many states, limited in other states Malpractice Liability: In certain cases, satisfied by general partner's assets Member of a Nonprofessional LLC Contractual Liability: Limited Malpractice Liability: Cannot be satisfied by member assets

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