Unlimited Partnership (UP) Characteristics

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What is the extent of liability of partners in an Unregistered Partnership (UP)?

Severally and limited to their contributions

Jointly and limited to their contributions

Jointly and unlimitedly (correct)

Severally and unlimitedly

What is the minimum capital required to register an Unregistered Partnership (UP)?

A specific amount set by the government

10,000 units of local currency

No minimum capital required (correct)

Depends on the number of partners

Who can manage an Unregistered Partnership (UP)?

Any partner, unless a manager is designated (correct)

All partners equally

Only an outsider hired by the partners

Only the designated manager

Where must an Unregistered Partnership (UP) be registered?

Commercial registry Signup and view all the answers

What is the requirement for transferring parts of an Unregistered Partnership (UP)?

Unanimous consent of all partners Signup and view all the answers

What is a characteristic of a limited partner in a partnership?

Their responsibility is limited to their contribution Signup and view all the answers

What is required by law for a Joint Stock Company to register?

Deposit of 30 million Lebanese pounds in a local bank Signup and view all the answers

What is a compulsory inclusion in an unlimited partnership agreement?

The capital contributions of each partner Signup and view all the answers

How many partners are required to form a limited partnership?

At least one active partner and one sleeping partner Signup and view all the answers

Who can qualify as a partner in an unlimited partnership?

A mentally stable person above 18 years old Signup and view all the answers

What is a characteristic of a Co-Partnery?

The firm has no public existence Signup and view all the answers

What determines the name of an unlimited partnership?

The collective name of its partners Signup and view all the answers

What is the liability of a general partner in a partnership?

Unlimited and personal Signup and view all the answers

What is a general reason for the dissolution of a partnership?

The accomplishment of the undertaken project Signup and view all the answers

What can investors do with their shares in a Joint Stock Company?

Transfer them to another investor Signup and view all the answers

What is a characteristic of a limited partnership?

It has both general and limited partners Signup and view all the answers

What must be deposited and registered at the registry in case of a statute amendment?

A copy of such amendment Signup and view all the answers

Unlimited Partnership (UP) Characteristics

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