Joe is an accountant and plans to join a group of accountants. he compares a group in a general partnership with a group in a limited liability partnership (llp). what is one advantage of the llp that he would be particularly interested in? joe would pay fewer taxes as a limited liability partner. joe would make a higher percentage of the profits as a limited liability partner. joe's personal property would not be at risk as a limited liability partner. joe would not be liable if another partner were to make a mistake.

What is one advantage of the llp that he would be particularly interested in? Joe would not be liable if another partner were to make a mistake.

In a LLC, the owners have protection against themselves and their assets. The are unable to take away their assets or use personal debts to pay business debts. An LLC is the route many small business owners go today when forming a type of partnership. 

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan