Inner Checklist to Limited Partnership

Question 1

Nature of Limited Partnership

Answer 1

1. Sources of Law
2. Defined
3. Formation

Question 2

Rights of Limited Partners

Answer 2

1. Right to Share in Profit
2. Right to Inspect Partnership Books
3. Right to Vote
4. Right to Participate in Partnership Management
5. Right to Sue the Partnership
6. Right to Withdraw
7. Right to Transfer Interest

Question 3

Rights of General Partners

Answer 3

1. Right to Manage Partnership Business
2. Right to Compensation
3. Right to Indemnity
4. Right to Withdraw