Question

Which of the following features  is not found in an LLP?

A A body corporate Correct Answer Incorrect Answer
B Legal entity separate from its partners Correct Answer Incorrect Answer
C Change in partners of LLP shall not affect rights of LLP Correct Answer Incorrect Answer
D None of the above Correct Answer Incorrect Answer

Solution

LLP Act Section 3. Limited liability partnership to be body corporate—(1) A limited liability partnership is a body corporate formed and incorporated under this Act and is a legal entity separate from that of its partners.  (2) A limited liability partnership shall have perpetual succession. (3) Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership

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