If Jack Contributed $1000 as a Limited Partner and Signed

If Jack contributed $1000 as a limited partner and signed a certificate, but the certificate was filed in the wrong office, Jack:

A) will not be liable as a general partner if he quickly withdraws from the business and renounces future profits.
B) is not a partner at all and may withdraw his contribution.
C) cannot avoid liability as a general partner under any circumstances.
D) may become a limited partner by giving constructive notice of the defective filing to all potential business contacts by an advertisement in a publication of general circulation.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free