Final answer:
The answer is 'e. All of the above.' In a general partnership, partners are not allowed to take certain actions such as assigning partnership property or disposing of goodwill without the consent of the other partners. These restrictions help protect the interests of all partners and the integrity of the business.
Step-by-step explanation:
Except when authorized by the other partners, one or more but less than all the partners have no authority to assign the partnership property in trust for creditors, dispose of the goodwill of the business, confess a judgment, compromise a partnership claim or liability, or engage in any other action that could materially affect the partnership's assets and liabilities. In a general partnership, all partners share responsibility and risk, and are responsible for each other's actions with regards to the business. This includes the potential loss of personal assets in the event of the business's failure. However, it also allows for shared decision-making and can lead to effective management with complementary skills among partners.
A limited liability partnership (LLP), on the other hand, offers protection to the partners from losing their personal assets beyond their investment in the company. LLPs do not have the same risk as general partnerships regarding personal liability and are a popular choice for professionals seeking the benefits of partnership without exposing personal assets to the risks of the business. Still, no partner in an LLP can take actions like those described (except the other partners authorize it) without potentially violating the agreement and the trust of other partners.