Explanation:

- Option 1: Limited

- In a limited partnership, some partners have limited liability, meaning their financial responsibility is restricted to their initial investment.

- Option 2: Unlimited

- In a general partnership, partners have unlimited liability. They can be personally held responsible for the debts and obligations of the partnership.

- Correct Answer

- Option 3: Determined by Court

- Liability isn't typically determined by a court unless there's a dispute. Courts enforce liability per the partnership agreement or law.

- Option 4: Determined by Partnership Act

- While laws guide liability structures, they often default to unlimited liability unless stated otherwise, such as in the Limited Liability Partnership Act.