Which of the following is a feature of limited-liability partnerships?
A)They are restricted to a limited number of partners who are liable for the business.
B)Liability is limited to 150% of each partners investment in the business.
C)Partner liability is unlimited but the liability of partner families is limited.
D)Each partner is liable for his or her own actions.

Question

Quizplus · Accepted Answer

Limited-liability partnerships (LLPs) are designed so that each partner's liability is limited to their own actions and those under their direct control, rather than being collectively responsible for the actions of all partners. This structure allows for individual accountability without exposing each partner to joint liability for the actions of others.

Which of the Following Is a Feature of Limited-Liability Partnerships