alleryIn an LLP, the liability of a partner is:
AJoint and several for all acts
BUnlimited, as in a firm
CLimited to the LLP's total assets
DLimited to his agreed contribution in the LLP
Answer & Solution
Correct answer: D. Limited to his agreed contribution in the LLP
The LLP is liable to the full extent of its assets, but a partner's liability is limited to his agreed contribution.
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