In a limited partnership, the has unlimited personal liability for the debts of the partnership; the is liable only to the extent of his or her capital contribution

General

Limited

Explanation:

A limited partnership is when two or more people come together to form a business where at least one partner has unlimited liabilites and other partners have limited liabilities.

The partner with unlimited liabilities is known as the general partner. The general partner is usually involved in the daily running of the business.

The partner with limited liabilities is known as the limited or silent partner. The limited partner isn't usually involved in the running of the business.

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