文档介绍：A 考试公司与商法复习题及答案( 4) Question: In the context of partnership law, focusing particularly on the liability of the members, explain each of the following: (a)an ordinary partnership; (b)a limited partnership; (c)a limited liability partnership. Answer: This question requires candidates to explain the operation and potential liability of members of three distinct types of partnerships. (a)The ordinary partnership This is the mon form of partnership. Ordinary partnerships involve potential unlimited liability for their members, should the business run into financial difficulties. It is possible to attempt to limit individual liability within the partnership by setting specific limits on the liability of the individual partners. This, however, has no effect on the external liability of the various members of the partnership who will remain liable for the full extent of the partnership debts. As a result, any partner who has to pay more than the amount agreed internally will be in the position to raise an action to recover any amount paid out in addition to their agreed limit from the other members of the partnership. (b)The limited partnership The Limited Partnerships Act (LPA) 1907 allows for the formation of limited partnerships. For members ofa partnership to gain the benefit of limited liability under this legislation, the following rules apply: — limited partners are not liable f