Question

The provisions of partnership act are_____.

A Applicable to an LLP. Correct Answer Incorrect Answer
B Not applicable to an LLP. Correct Answer Incorrect Answer
C May apply to an LLP. Correct Answer Incorrect Answer
D May apply to an LLP if entered into an agreement. Correct Answer Incorrect Answer
E It is the discretion of designated partners. Correct Answer Incorrect Answer

Solution

  S. 4. Non-applicability of the Indian Partnership Act, 1932.— Save as otherwise provided, the provisions of the Indian Partnership Act, 1932 shall not apply to a limited liability partnership.

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