Homework
Charlie is a limited partner in a limited partnership. Charlie has recently been contacted by an attorney to review some of Charlie's recent activities. Discuss Charlie's liability for each of the following statements and actions.
1. Charlie has been hired as a consultant for the limited partnership
2. Charlie identified several management problems and made recommendations that included removing one of the general partners, expanding into an additional line of business, and borrowing substantial money to finance the expansion.
3. At a partnership meeting to discuss Charlie's recommendations, Charlie voted to remove the partner, expand the business and borrow money.
4. To get the loan to finance the business, Charlie executed a personal guarantee on the loan.
5. The partnership dissolved after a short period of time. Upon dissolution, the partnership debts exceeded the assets. Numerous creditors claim that Charlie should be considered a general partner.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.