alleryStart learning →Under the LLP Act 2008, an LLP is best described as which of these?
AA body corporate separate from its partners
BAn association with no legal identity
CA proprietary concern of one owner
DA trust managed by its partners
Answer & Solution
Correct answer: A. A body corporate separate from its partners
An LLP is incorporated as a body corporate and so has a legal identity distinct from that of its partners.
Keep practising II LLP Act 2008 including important Rules
Browse all II LLP Act 2008 including important Rules questions for CA Inter, or explore more Law topics.
Related questions
A retiring partner is entitled to what capital, unless agreed?A pre-incorporation agreement binds the LLP only if what?From which assets are an LLP's liabilities met?Which of these is part of the definition of 'business' under the LLP Act?Before becoming a designated partner, an individual must give what to the LLP?When all partners are bodies corporate, who act as designated partners?What is the position of an LLP regarding a common seal?When does a change in an LLP's registered office take effect?