Respuesta :
A Cherry Creek Limited Partner's Limited Liability is forfeited if they participate in the management of the Company.
What is a limited partnership?
- Similar to a general partnership, a limited partnership (LP) must have at least one general partner (GP) and at least one limited partner, as opposed to the minimum requirement of two GPs for general partnerships.
- Different from limited liability partnerships, which only have limited liability for each participant, are limited partnerships.
- One limited partnership that makes investments in residential real estate projects is Cherry Creek Development, LP. More than 150 knowledgeable investors and investment professionals make up its limited partners.
- If a Cherry Creek limited partner takes on management responsibilities, their limited liability is forfeited.
Therefore, a cherry creek limited partner loses his or her limited liability if he or she participates in the firm's management.
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