Difference between general partnership and limited liability partnership
Answers
Answer:
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A limited partnership is a relationship where one or more partners are not involved in the day-to-day management of the business.
A general partner may invest money into the company. However, a general partner may also be personally liable for the debts of the company, while the limited partner is not.
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Explanation:
Partnership at WIll and Particular Partnership
A partnership at will and particular partnership arises when a partnership is formed with no fixed terms regarding how long the partnership will last
A partnership at will and particular partnership arises when a partnership is formed with no fixed terms regarding how long the partnership will last. It could also mean that the partnership has been entered into for an open-ended amount of time. Simply put, the partnership is open-ended. Either party may dissolve a partnership at will with appropriate notice to the other party.