Asked by Kameron Teague on Jun 28, 2024
Verified
The identity of a limited partner is rarely disclosed to third parties engaged in general business relations with the partnership.
Limited Partner
A limited partner is an investor in a partnership who is not involved in the day-to-day management and whose liability is limited to the amount of their investment.
Disclosed
Revealed or made known information, often in the context of legal or business proceedings.
- Gain insight into the structure of limited liability partnerships and the delineation between limited and general partners.
Verified Answer
ZK
Zybrea KnightJul 04, 2024
Final Answer :
True
Explanation :
Limited partners typically do not participate in the day-to-day management of the partnership and are not publicly disclosed to protect their privacy and limit their liability, making their identity less commonly known to third parties.
Learning Objectives
- Gain insight into the structure of limited liability partnerships and the delineation between limited and general partners.
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