Question

question 7
in a limited partnership, the limited partner isnt liable to creditors for partnership debts, but he foregoes his right__________
o a. to receive information about the partnership
o b. to invest more money beyond his original contribution
o c. to provide consent for general partner decisions
o d. to control or manage the partnership
question 8

Explanation:

In a limited partnership, the key characteristic is that the limited partner has limited liability. However, in return for this limited liability, the limited partner gives up the right to control or manage the partnership. General partners have the management control. Option A (receiving information) is a right limited partners typically retain. Option B (investing more) is not a right they forgo as it's a voluntary action. Option C (providing consent for general partner decisions) is not the main right they give up compared to management control.

Answer:

D. to control or manage the partnership