Which type of partner in a limited partnership has unlimited liability?

In a limited partnership, the type of partner who has unlimited liability is the general partner. The general partner is responsible for the day-to-day operations of the partnership and has the authority to make decisions on behalf of the partnership. This role comes with the significant risk of unlimited liability, meaning they are personally liable for the debts and obligations of the partnership. If the partnership cannot meet its financial obligations, creditors can pursue the general partner's personal assets to satisfy those debts.

In contrast, limited partners have limited liability, meaning their financial risk is capped at the amount they have invested in the partnership. The limited partners generally do not participate in the management of the business. This structural distinction is essential as it attracts investors who seek to limit their risk while providing operational control to the general partner.