alleryUnder Section 3, an LLP is:
ANot a separate legal entity
BThe same as its partners
CA body corporate and a legal entity separate from its partners, with perpetual succession
DA branch of a company
Answer & Solution
Correct answer: C. A body corporate and a legal entity separate from its partners, with perpetual succession
Section 3 makes an LLP a body corporate, a separate legal entity from its partners, with perpetual succession.
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