Welcome back to the Law School Toolbox podcast! This is the second installment of our episodes on partnerships. Previously, we covered the creation of the three main types of partnerships – general partnerships, limited partnerships, and limited liability partnerships. Today we will focus on the power and liability of partners in a partnership.
In this episode we discuss:
- Authority of partners in a partnership
- Liability of partners in different partnership types:
- General partnership
- Limited partnership (LP)
- Limited liability partnership (LLP)
- Applying the rules to two hypos from previous California bar exams
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Resources:
- “Listen and Learn” series
- California Bar Examination – Essay Questions and Selected Answers, July 2023
- California Bar Examination – Essay Questions and Selected Answers, July 2014
- Podcast Episode 464: Listen and Learn – Partnership Formation
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