alleryBecause an LLP has perpetual succession, the death, insolvency or retirement of a partner:
ARequires re-registration
BDoes not affect the existence, rights or liabilities of the LLP
CDissolves the LLP
DConverts it into a firm
Answer & Solution
Correct answer: B. Does not affect the existence, rights or liabilities of the LLP
Perpetual succession means changes among partners (death, insolvency, retirement) do not affect the LLP's continued existence.
Keep practising The Limited Liability Partnership Act 2008
Browse all The Limited Liability Partnership Act 2008 questions for CA Foundation, or explore more Businesslaw topics.
Related questions
A pre-incorporation agreement binds the LLP only if ratified by whom?Before becoming a designated partner, an individual must give what?Who signs the notices of change that an LLP files with the Registrar?A partner's liability in an LLP is limited to what?An LLP is best described as a hybrid of which two forms?On which date was the first Indian LLP incorporated?What minimum capital is required to form an LLP?An LLP is incorporated on 15 November 2023. Its first financial year may be extended up to