495: Listen and Learn -- Partnership Liability

Welcome back to the Law School Toolbox podcast! This is the second installment of our episodes on partnerships. Previously, we covered the creation of the three main types of partnerships – general partnerships, limited partnerships, and limited liability partnerships. Today we will focus on the power and liability of partners in a partnership.

In this episode we discuss:

• Authority of partners in a partnership
• Liability of partners in different partnership types:
  • General partnership
  • Limited partnership (LP)
  • Limited liability partnership (LLP)
• Applying the rules to two hypos from previous California bar exams

Resources:

• "Listen and Learn" series (https://lawschooltoolbox.com/law-school-toolbox-podcast-substantive-law-topics/#listen-learn)
• California Bar Examination – Essay Questions and Selected Answers, July 2023 (https://www.calbar.ca.gov/Portals/0/documents/admissions/Examinations/July-2023-CBX-Questions-and-Selected-Answers.pdf)
• California Bar Examination – Essay Questions and Selected Answers, July 2014 (https://www.calbar.ca.gov/Portals/0/documents/admissions/gbx/July2014CBX_SelectedAnswersEssays1-6_R.pdf)
• Podcast Episode 464: Listen and Learn – Partnership Formation (https://lawschooltoolbox.com/podcast-episode-464-listen-and-learn-partnership-formation/)

Download the Transcript  (https://lawschooltoolbox.com/episode-495-listen-and-learn-partnership-liability/)

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Thanks for listening!

Alison & Lee