What is a limited liability in partnership agreements


Problem

a) What is a partnership? What is a ?duciary duty of a partner?
b) What is a limited liability in partnership agreements?
c) Are new partners responsible for the liability of old partners?
d) What are the Partnership Act default rules. Explain.
e) What happens if a partner dies or leaves the partnership?
f) What is Negligence?
g) What is due care? How do you prove due care?

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