Questions from Business Law

Q: Why are LLCs and partnerships attractive to businesspersons?

Why are LLCs and partnerships attractive to businesspersons?

Q: What is the difference between a general partnership and a limited partnership

What is the difference between a general partnership and a limited partnership?

Q: What are the three essential elements necessary (but not necessarily sufficient

What are the three essential elements necessary (but not necessarily sufficient) to form a partnership?

Q: How is partnership liability paid out when a judgment is rendered against

How is partnership liability paid out when a judgment is rendered against the partnership?

Q: When will majority rule not govern decisions connected with partnership business?

When will majority rule not govern decisions connected with partnership business?

Q: When may a partner withdraw from a partnership?

When may a partner withdraw from a partnership?

Q: Which aspects of a business’s operation do the rules, orders,

Which aspects of a business’s operation do the rules, orders, and decisions of administrative agencies affect?

Q: When the terms of a written contract are ambiguous, how can

When the terms of a written contract are ambiguous, how can the meaning of the terms be shown?

Q: Can the partnership undertake new obligations after it has been dissolved?

Can the partnership undertake new obligations after it has been dissolved?

Q: What are the primary functions of general and limited partners in a

What are the primary functions of general and limited partners in a limited partnership?