Hi, I am a bit confused about liability. The lecture says that in both limited partnerships and limited liability partnerships someone needs to have unlimited liability. My textbooks say (if I’m understanding them correctly!) that there needs to be at least one general partner in a limited partnership who has unlimited liability, but all partners in a limited liability partnership have limited liability. Which is right?
Very nice lecture Mike, thank you so much for this and thank you open tuition for this wonderful website. With ref: to case Salomon. Was there no alternative for the creditors to have their 拢15K back, I mean I’m fine with the concept of separate legal personality Mr Salomon saved back his money, however from a creditor’s perspective it might appear unfair to lend / provide money in return for a loan note / debenture but then have nothing in return? (specially we are referring to “secured” debenture in this case). Thank you for advising.
The company DID get something in return. The 拢15,000 secured debenture was issued by the company as part of the purchase consideration when the company bought out the sole-tradership of Mr Salomon
Sheffon says
Great lecture, he’s quite funny too! Thanks opentuition
GULUSH says
Hi. I would like to give exam next month. Is it possible to prepare for a month?
MikeLittle says
Yes, but it will be hard work!
Kirsty says
Hi,
I am a bit confused about liability. The lecture says that in both limited partnerships and limited liability partnerships someone needs to have unlimited liability. My textbooks say (if I’m understanding them correctly!) that there needs to be at least one general partner in a limited partnership who has unlimited liability, but all partners in a limited liability partnership have limited liability. Which is right?
Thanks,
Kirsty
Kimisha says
thanks for this lecture
dituribeqaraj1973 says
Beautiful explanations….
Very professional, very clear & concise.
Thank you Mike & Open Tuition.
Kind regards
lukeman says
great work, God bless you for these lectures
casper1981 says
Wonderful!
nzeadall says
Very nice lecture Mike, thank you so much for this and thank you open tuition for this wonderful website.
With ref: to case Salomon. Was there no alternative for the creditors to have their 拢15K back, I mean I’m fine with the concept of separate legal personality Mr Salomon saved back his money, however from a creditor’s perspective it might appear unfair to lend / provide money in return for a loan note / debenture but then have nothing in return? (specially we are referring to “secured” debenture in this case). Thank you for advising.
MikeLittle says
The company DID get something in return. The 拢15,000 secured debenture was issued by the company as part of the purchase consideration when the company bought out the sole-tradership of Mr Salomon
tahir says
thanxxxxxxxxxxxxxxxxxxx…………………….
tauraiversatile says
Detailed and well explained, thumbs up to open tuition!
adeogo7 says
could u pls check, there is no volume to the F4 lectures
admin says
maybe you clicked ‘mute’ button?
audio works fine,
stranger101 says
I feel so confident now!!! 馃榾
aamirhope2 says
love the lecture greate work opentuition
debbiebrown says
I wish so much that I knew of this site earlier. So glad I have found you 馃檪
saud says
are giving f4 now. whre are you from. i am from P
akistan
nuwan says
it was a good assistace