What is the duration of a limited partnership according to state law?

A limited partnership can actually be structured to be perpetual, meaning it can continue indefinitely unless a specific duration is stated in the partnership agreement. This offers flexibility to the partners, allowing them to determine how long they wish the partnership to exist. If the partnership agreement does not specify a duration, it defaults to perpetual continuity, which is a common practice for many business entities seeking stability and longevity.

The other options suggest constraints or fixed durations that are not generally applicable under state law for limited partnerships. There's no inherent ten-year limit, no mandatory minimum of 25 years, and the duration is not fixed in a way that prevents change. Partners have the autonomy to create the duration terms that best suit their business needs, contributing to the overall appeal of limited partnerships.