Albert joined a limited partnership with an investment of $10,000 for his interest. There were nine other limited partners who invested the same amount. There were two general partners who invested $100,000 each. The general partners filed the certificate of limited partnership in the wrong location. The general partners negotiated the purchase of two separate parcels of real estate, signing notes for both on behalf of the limited partnership. The seller of the first parcel was aware that there were only two limited partners and that the remaining partners were limited partners. The seller of the second parcel thought that she was dealing with a general partnership with all of the partners as general partners. After these transactions, when Albert discovered the defective filing, he notified the general partners, who immediately made a correct filing. What personal liability does Albert have in connection with these two transactions?
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 18:30, mashejaj
2. high-glow currently produces 1,000 bicycles per month. the following per unit data apply for sales to regular customers: direct materials $50 direct manufacturing labor 5 variable manufacturing overhead 14 fixed manufacturing overhead 10 total manufacturing costs $79 the plant is experiencing demand shortage and is considering reducing production to 800 bicycles. what is the per unit cost of producing 800 bicycles? a) $79 per unit b) $81.50 per unit c) $74 per unit d) $69 per unit
Answers: 2
Business, 22.06.2019 16:30, cadenbukvich9923
Why is investing in a mutual fund less risky than investing in a particular company’s stock?
Answers: 3
Business, 23.06.2019 02:40, cortneyka10
Acompany that uses the periodic inventory system provided the following information: 1. beginning inventory $ 5 comma 0002. purchases $ 150 comma 0003. purchase discounts $ 2 comma 1004. purchase returns and allowances $ 1 comma 000at the end of the period, the physical count of inventory reveals that $ 16 comma 000 worth of inventory is on hand. what is the amount of cost of goods sold?
Answers: 2
Do you know the correct answer?
Albert joined a limited partnership with an investment of $10,000 for his interest. There were nine...
Questions in other subjects:
