Question

Without the written consent or ratification of the specific act by all the limited partners a general partner or all of the general partners have no authority to:

a. Do any act in contravention of the certificate.
b. Do any act which would make it impossible to carry on the ordinary business of the partnership.
c. Confess a judgement against the partnership.
d. Possess partnership property or assign their rights in specific partnership property for other than a
partnership purposes.
e. All of the above.

Answer 1

In a limited partnership, the general partner or partners need the consent of all the limited partners to perform certain acts.

In a limited partnership, the general partner or partners do not have the authority to do certain acts without the written consent or ratification of all the limited partners. These acts include:

1. Doing any act in contravention of the certificate: This means that the general partner or partners cannot take actions that go against the provisions stated in the partnership agreement or certificate.
2. Doing any act which would make it impossible to carry on the ordinary business of the partnership: The general partner or partners are not allowed to engage in actions that would hinder or prevent the partnership from conducting its regular business operations.
3. Confessing a judgment against the partnership: The general partner or partners cannot admit or accept a judgment against the partnership without the consent of all the limited partners.
4. Possessing partnership property or assigning their rights in specific partnership property for other than partnership purposes: The general partner or partners cannot use partnership property for personal purposes or transfer their rights in partnership property for reasons other than the interests of the partnership.

Therefore, the correct answer is (e) All of the above.