If your client's real estate limited partnership goes bankrupt, which of the following are paid before your client?
I. Fellow limited partners.
II. Bank that holds the mortgage on the property.
III. Bank that holds the unsecured loans on the property.
IV. General partner.
A) I and III.
B) I and II.
C) II and III.
D) III and IV.
Answer: C) II and III.
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