Which of the following is true about the effect of LLP statutes after appointment of a new partner?
A)RUPA provides that the new partner has full liability for the LLP's obligations.
B)The former partners will be personally responsible on committing a malpractice.
C)For obligations incurred before his admission,the new partner may not be held liable.
D)LLP partnership agreements often change the RUPA rule about a new partner's liability.

Question

Quizplus · Accepted Answer

If a new partner enters an LLP,the RUPA provides that the partner has no liability for the obligations of the LLP beyond his capital contribution,whether incurred before or after his admission.

Which of the Following Is True About the Effect of LLP