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The following are the rights of a limited partner. except to: If} Participate in the management oi the Firm. 0 Have the partnership hooks ire
The following are the rights of a limited partner. except to: If} Participate in the management oi the Firm. 0 Have the partnership hooks ire pt at the principal place oi business oi the partnership. and at a reasonable hour to inspect and cop-5.f any oi them {:- Reeeive a share oi the prots or other compensation by way oi income. and to the return of his contribution {:2- Have dissolution and winding up by decree oi court. A preferred Limited partner is a person: O Given preference as to the return of their contributions and compensation by way of income. O Who has the highest contribution in the firm among the limited partners. O Whose name appears in the Firm name O Given preference in the management of the firmA general-limited partner is one who: {in has rights and powers and be subject to all the restrictions; oi a general partner: except that. in respect to his contribution. he shall have the rights against the other members which he would have had it he were not also a general partner. {:3- Contributes only money or property to the firm. {:3- has rights and powers and be subject to all the restrictions oi a limited partner: except that. in respect to his contribution. he shall have the rights against the other members which he would have had it he were not also a general partner. .1") has rights and powers and be subject to all the restrictions oi a limited partner: except that. in respect to his contribution. he shall have the rights against the other members which he would have had it he were not also a limited partner. Under the law, the following are the remedies against an industrial partner who engage in business for himself, without express permission from the other partners. Which one is not? O The other partners may exclude him from the firm and avail themselves of the benefits which the industrial partner may have obtained in violation of the prohibition O He may be excluded from the partnership The other partners may avail themselves of the benefits which the industrial partner may have obtained in violation of the prohibition. O He may be liable to damages.One of the property rights of a partner is his rights in specific partnership property. With respect to this rights, which of the following statements is true: O This right allows a partner to use specific partnership property for partnership purposes. O Specific partnership property may be a subject of execution to satisfy a judgment in favor of a separate creditor of a partner. O The dependents of a partner may claim support from specific partnership property. O A partner may assign specific partnership property in favor of his separate creditor.To whom can the partners entrust the designation of profits and losses? O A Third Person, by agreement of the partners O Industrial Partner O Any of the Partners O Partner with controlling Interest
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