Under the second wave of the partial shield statute, a partner of a limited liability partnership (LLP) would be unlimitedly liable for:
A) breaches of ordinary contract obligation.
B) negligent acts.
C) wrongful acts by employees.
D) wrongful acts of agents.
E) malpractice and misconduct of employees.

Question

Quizplus · Accepted Answer

Under the second wave of the partial shield statute, partners in an LLP are generally protected from personal liability for the negligent or wrongful acts of other partners, employees, or agents. However, they may still be personally liable for their own breaches of ordinary contract obligations.

Under the Second Wave of the Partial Shield Statute, a Partner