Delaney v. Fidelity Lease Limited

DANIEL, Justice.

The question here is whether limited partners in a limited partnership become liable as general partners if they “take part in the control of the business” while acting as officers of a corporation which is the sole general partner of the limited partnership. The trial court, by summary judgment, held that under such circumstances the limited partners did not become liable as general partners. The court of civil appeals affirmed with a dissent and a concurring opinion. 517 S.W.2d 420. We reverse and remand the case for trial on the merits.

Fidelity Lease Limited is a limited…