Joined: 17 Sep 2010 Location: United States
Online Status: Offline Posts: 86
Posted: 30 Dec 2011 at 12:45 | IP Logged
Q - LP has right to take part in the control of the partnership
A- No
I answered yes because LP can indirectly control the partnership. For an example, admission of new partner needs LP's vote. So I think LP indirectly control the partnership. Am I thinking too much?
Joined: 04 Jan 2011
Online Status: Offline Posts: 16
Posted: 30 Dec 2011 at 13:08 | IP Logged
As a limited partner, you have no
management rights; thus, no control over the partnership (that's why
you're a LP). But I see your point there's a lot of questions
(especially one relating to law and biz structure) I find that are vague
and depending on how you view it could be A or B. What I've found, is
if you're having to think too much on simple questions generally the
obvious answer is the right one... YMMV
Joined: 06 Dec 2011
Online Status: Offline Posts: 19
Posted: 01 Jan 2012 at 14:32 | IP Logged
I agree. Also, it's important to think about the best answer. Several times you'll see answers that are partially right and then for the explanation, it will say, "this answer could be right but it isn't the best answer." What's one of the biggest traits of a limited partner? Can't take part in management/control.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot delete your posts in this forum You cannot edit your posts in this forum You cannot create polls in this forum You cannot vote in polls in this forum
Active Topics 
Memberlist 
Search 
Help
Register 
Login
Topic: Limited Partnership
Topic Closed)
