In a limited partnership, the liability of most of the partners is?
Answer Details
In a limited partnership, the liability of most of the partners is limited. This means that the liability of these partners is restricted to the amount of capital they have invested in the business. They are not personally liable for the debts and obligations of the partnership beyond their investment. However, there is usually one partner who has unlimited liability, known as the general partner. The general partner is personally liable for all the debts and obligations of the partnership. Limited partnership is a type of partnership where there are both limited partners and general partners.