Partner contributions to a limited partnership do not automatically result in a limited partnerships liability but the partners are only liable for that liability up to capital contributions. A Limited Partner is typically an investor who has provided capital in exchange for a shared interest in the business. Unit 7 Flashcards Quizlet 2each limited partners liability is limited to the amount he put into the partnership. . This company has not listed any contacts yet. A limited partnership LP exists when two or more partners go into business together but the limited partners are only liable up to the amount of their investment. It must provide that all partnership transactions be approved by all partners. A limited partnership is a type of business partnership that involves a general partner responsible for the everyday operations and limited partners who invest in the business. All limited partners sometimes known as silen