A person admitted to all the rights of a limited

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Business Law Today, The Essentials: Text and Summarized Cases
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Chapter 18 / Exercise 2
Business Law Today, The Essentials: Text and Summarized Cases
Miller
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37.A person admitted to all the rights of a limited partner who has died or has assigned his interest in the partnership is known as:a. An ostensible partner.b. A liquidating partner.c. A substituted limited partner.d. A general-limited partner.
38.If the assignee does not become the partner referred toin the preceding number, his rights do not include:
39.What is the order of payment of liabilities of a dissolved limited partnership using the code number representing each liability?
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Business Law Today, The Essentials: Text and Summarized Cases
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Chapter 18 / Exercise 2
Business Law Today, The Essentials: Text and Summarized Cases
Miller
Expert Verified
V.Those owing to general partners in respect of capital.VI.Those owing to general partners in respect of profits.
40.Which of the following will not cause the automatic dissolution of a limited partnership?a. Death of a general partner.b. Death of a limited partner.c. Insolvency of a general partner,d. Insanity of a general partner.
41.One of the distinctions between a partnership and a corporation is that a partnership:
42.Belinda, Ara, Rica and Klaudia are partners in BARK Enterprises, a pet shop, with Belinda contributing P50,000.00; Ara, P20,000.00; and Rica, P30,000.00. Klaudia is an industrial partner and manages the partnership. Based on the foregoing information, which of the following statements is false?

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