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