Mandy is a limited partner in a limited partnership in which Strasburg and Hua are the general partners. Which of the following may Mandy do without losing limited liability protection?
I. Mandy acts as an agent of the limited partnership.
II. Mandy votes to remove Strasburg as a general partner.
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Answer is Both I and II.
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I chose “II Only” and my reasoning was this:
Limited partner in LP is NOT an agent and can NOT bind the p-ship to a contract, only general partner does.
If Mandy acts like an agent and third party thought she is a general partner, she will have apparent authority and this will make Mandy PERSONALLY LIABLE and not in limited liability any more.
Am I wrong on this or am I missing something here again!! Please help!! thank you all!!