Welcome back to the Bar Exam Toolbox podcast! This is the second installment of our episodes on partnerships. In part one, 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
Resources:
- "Listen and Learn" series (https://barexamtoolbox.com/bar-exam-toolbox-podcast-archive-by-topic/bar-exam-toolbox-podcast-explaining-individual-mee-and-california-bar-essay-questions/#listen-learn)
- California Bar Examination – Essay Questions and Selected Answers, July 2023 (https://www.calbar.ca.gov/Portals/0/documents/admissions/Examinations/July-2023-CBX-Questions-and-Selected-Answers.pdf)
- California Bar Examination – Essay Questions and Selected Answers, July 2014 (https://www.calbar.ca.gov/Portals/0/documents/admissions/gbx/July2014CBX_SelectedAnswersEssays1-6_R.pdf)
- Podcast Episode 84: Tackling an MEE Partnerships Essay (https://barexamtoolbox.com/podcast-episode-84-tackling-an-mee-partnerships-essay/)
- Podcast Episode 269: Listen and Learn – Creation of Partnerships (https://barexamtoolbox.com/podcast-episode-269-listen-and-learn-creation-of-partnerships/)
Download the Transcript
(https://barexamtoolbox.com/episode-278-listen-and-learn-partnership-liability/)
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Thanks for listening!
Alison & Lee