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Tim is a limited partner in a limited partnership which operates a day care center...

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Finance

Tim is a limited partner in a limited partnership which operates a day care center and nursery school. Tim retired from his profession as a teacher and has quite a bit of time on his hands. To occupy his time, Tim without the other partners knowledge, has begun negotiating on a parcel of land adjacent to the nursery school/center so the nursery school/center can expand. Discuss the correctness of this action by Tim and any possible liability Tim may have for his conduct

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