alleryStart learning →Which feature lets an LLP continue despite changes among its partners?
AJoint liability
BUnlimited liability
CPerpetual succession
DDissolution on notice
Answer & Solution
Correct answer: C. Perpetual succession
Perpetual succession means the LLP outlives any partner's exit, death or entry, unlike a general firm.
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