New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Every partner of a limited liability partnership is, for

    the purpose of the business of the limited liability partnership________
    A Agent of the limited liability partnership Correct Answer Incorrect Answer
    B Agent of the partners Correct Answer Incorrect Answer
    C Agent of the limited liability partnership, but not of other partners Correct Answer Incorrect Answer
    D Agent of the limited liability partnership as well as the other partners Correct Answer Incorrect Answer
    E Neither the agent of the limited liability partnership nor of the partners Correct Answer Incorrect Answer

    Solution

    Section 26.   Partner as agent: Every partner of a limited liability partnership is, for the purpose of the business of the limited liability partnership, the agent of the limited liability partnership, but not of other partners.

    Practice Next