Which of the following statements regarding lawsuits and limited liability partnerships is false?
A)Only the LLP is liable on a contractual obligation.
B)Only the LLP may be sued for a contractual obligation.
C)The LLP and the partner who committed the tort are liable.
D)Even LLP members who had no role in the commission of a tort have liability.

Question

Quizplus · Accepted Answer

For LLP partners,only the LLP is liable on a contractual obligation,and only the LLP may be sued on such a claim.For tort obligations,the LLP is liable as well as the partner who committed the tort.LLP partners who had no role in the commission of the tort have no liability.

Which of the Following Statements Regarding Lawsuits and Limited Liability