Peter stated that in the LLC that's the first time we have not seen anyone personally liable for the partnership's debts. But I thought the same held true in the LLP. Maybe he misspoke?
In an LLP-Generally a partner is not personally liable for the partnership's debts/contracts. But is personally liable for any torts that he/she may commit, or any torts that someone under their direct control might commit.
In a LLC-Partner is not personally liable for the partnership's debts. But would be personally liable for any torts he/she commits. Right?
Far-79
Ethics-98





