Creton is a limited partner in Dunham & Waldo. Under which of the following circumstances would...

Creton is a limited partner in Dunham & Waldo. Under which of the following circumstances would Creton surrender his limited liability?

	a.	Creton signed a certificate of limited partnership.
	b.	Creton's surname is Dunham.
	c.	Creton reviews e-mails from the general partners regarding the profitability of the business.
	d.	Creton has lunch each month with the general partners.
	e.	Creton receives copies of profit and loss statements.

Expert Solution

Answer : Correct Option is (b.) Creton's Surname is Dunham.

Reason :

There are certain conditions which need to be fulfilled in order to maintain limited status of the partner.One such condition is that the partnership not contain the surname of the partners.If this condition is violated then the partner has to surrender his / her limited Liability.So if Creton's surname is Dunham then this may lead to Creton surrender his limited liability.

jeff jeffy answered 2 years ago

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