give any two characteristics of limited partnership
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a limited partnership must include at least one general partner who maintains unlimited liability. the liability of other partners is limited to the amount of their investments. therefore, they are called limited for water a limited partnership usually has LLP in its name.
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They are a separate legal entity from their members. They have the benefit of limited liability for their members. They are taxed as a partnership. They have the organisational flexibility of a partnerships
Existence of business: ...
Sharing of profits: ...
Agency relationship: ...
Membership: ...
Nature of liability: ...
Fusion of ownership and control: ...
Non-transferability of interest:
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