alleryStart learning →Who may become a partner in an LLP?
AAny individual or body corporate
BOnly registered companies
COnly resident individuals
DOnly Indian citizens by birth
Answer & Solution
Correct answer: A. Any individual or body corporate
Both individuals and bodies corporate may be partners, subject to disqualifications for certain individuals.
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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?