Darin is a limited partner in Eco Baits, a pest control service organized as a limited partnership, which cannot pay its debts. Darin is liable for the debts Select one: a. to no extent. b. to the extent of her capital contribution to the firm. c. in proportion to the number of partners in the firm. d. to the full extent.

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Lilianna Eaton

Business

5 August, 17:46

Darin is a limited partner in Eco Baits, a pest control service organized as a limited partnership, which cannot pay its debts. Darin is liable for the debts Select one: a. to no extent. b. to the extent of her capital contribution to the firm. c. in proportion to the number of partners in the firm. d. to the full extent.

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Paul · Answer 1

B) to the extent of her capital contribution to the firm.

Explanation:

The characteristics of a limited partnerships are:

limited partnerships, unlike general partnerships, must be filed with a state government the partners of a limited partnership have limited personal liability which equals the amount of their participation in the partnership, e. g. Darin is only liable to a maximum amount that equals her participation in the partnership limited partnerships are controlled by the partners limited partnerships are taxed like general partnerships