Posted: May 2nd, 2017

Anita and Sameera own a salon together. Anita manages the business and takes management decisions herself. On the other hand, Sameera has only invested capital in the business. According to the agreement, Anita assumes responsibility for all the debts and liabilities of the salon, but Sameera is liable only for the amount that she contributed to the business. What type of business form is illustrated in the scenario, assuming necessary documents are filed with the appropriate jurisdiction?

Anita and Sameera own a salon together. Anita manages the business and takes management decisions herself. On the other hand, Sameera has only invested capital in the business. According to the agreement, Anita assumes responsibility for all the debts and liabilities of the salon, but Sameera is liable only for the amount that she contributed to the business. What type of business form is illustrated in the scenario, assuming necessary documents are filed with the appropriate jurisdiction?
A limited liability partnership
A general partnership
A sole proprietorship
A corporation