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Law

Explore questions in the Law category that you can ask Spark.E!

in a general partnership, partners have what kind of liability?
- applies to all types of businesses- creditor of a partnership must first seek recovery from the partnership itself, before pursuing a partner individuallythis is called ____ __ ____
capital income can be recalled for __ years if the reason you left was fraud
if a partner has a personal debt and falls behind on payments, the creditor must go after...
what business type does marshalling of assets apply to?
general partners pay taxes on their ____, not total
partnership = _____partners = members
General Partners are personally liable (unless LLP), while Limited Partner's Liability is limited to _____, unless creditors are mislead
partners pay ____ ____ on their respective shares of the profits (whether or not those profits are withdrawn form the partnership)
if a Limited Partnership and LLP fail to file, this results in...
a characteristics of a general partnership is an equal voice in ____, unless contrary agreement
to mend partnership agreement requires consent from ____
(with taxation of general partnership)business can deduct ____% of pass through income until 2026
a general partnership does not have mandatory filing, but a limited partnership require _____ filings
in a partnership, losses are shared in the ____ ratio as profits
General Partners are personally liable unless ____
'persons' (in the definition of a partnership) is broadly defined and can be a _____ not just individual people
General Partnerships (do or do not) have a mandatory filing
single business enterprise, short termis a ___ ____
admission of new General partner or change in P/S agreement requires ___ ___

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