True/False
A partner may not receive a distribution from a limited partnership unless the partnership's assets after the distribution would be sufficient to pay all of the partnership's liabilities, including those to other partners on account of their partnership interests.
Correct Answer:
Verified
Correct Answer:
Verified
Q30: A person for purposes of membership in
Q31: The death or bankruptcy of a limited
Q32: Which of the following need NOT be
Q33: Most LLC statutes expressly provide for mergers,
Q34: In a limited partnership, the contribution of
Q36: Discuss the duties of general partners to
Q37: Some statutes permit the operating agreement of
Q38: Which of the following is untrue of
Q39: General partners and limited partners rank equally
Q40: Most statutes and the amended ULLCA make