Justin and Michael form a limited partnership and start a car dealership. Justin is the general partner and Michael is the limited partner. Seven months after the commencement of the business, Pedro makes an investment and wishes to become a general partner. A week later, Michaels mother wishes to join the partnership as a limited partner.
1. Which of the following is true in this scenario?
O Pedro cannot be a general or limited partner
O Pedro cannot be admitted as a general partner to the partnership as a limited partnership can only have one general partner.
O Michael's mother cannot be admitted as a limited partner to the partnership as a limited partnership can only have one limited
partner.
O Both Pedro and Michael's mother can choose to be admitted as either general or limited partners to the partnership.
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