Multiple Choice
Cherry Creek Development, LP, is a limited partnership that invests in residential real estate projects. Its limited partners include more than 150 sophisticated investors and investment professionals. A Cherry Creek limited partner loses his or her limited liability if he or she
A) participates in the firm's management.
B) does not participate in the firm's management.
C) invests in a project that Cherry Creek has declined.
D) votes to sell or dissolve the firm.
Correct Answer:
Verified
Correct Answer:
Verified
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