Question

Orlando is a limited partner in Port of Call Exports, a limited partnership. By participating in the firm's management, Orlando is liable for its obligations

Select one:
a. ​to no extent.
b. ​to the extent of his capital contribution to the firm.
c. ​in proportion to the number of partners in the firm.
d. ​to the full extent.

Answer 1

Answer:

b. ​to the extent of his capital contribution to the firm.

Explanation:

A limited partner is liable up to the amount of his or her contribution to the firm when managing the firms liabilities.

Answer 2

Answer:

To the extent of his capital contribution to the firm ( B )

Explanation:

A limited partner in a limited partnership does not bear the liability of the company to the full extent and also does not bear the liability of the firm in proportion tot the number of partners in the firm because while he is a limited partner other partners might hold an unlimited partnership with the firm. although a limited partner does not bear much liability but he/she bears to the extent of his capital contribution in the firm because limited partnership entails that the unlimited partner partakes in the management of the firms and also bears the liability of the firm.while the limited partner does not partake in the management of the firm and also does not partake in the full liability of the firm as well