Ch 4 The Limited Liablity Partnership Act 2008

Minimum designated partners required in a LLP are:

For reservation of name, e-Form _________ is required.

In case of a LLP, the partners are agents of _________.

Maximum number of partners in a LLP can be:

The LLP Act, 2008 came into force from:

Common seal is mandatory for _________.

In case of legal non-compliance and penalties under the LLP Act, _________ are responsible.

Foreign Nationals can become a partner in a LLP.

LLP can be incorporated for charitable purpose as well as for business.

Every partner in a LLP is the agent for the purpose of the business of LLP but not of the other partners.

Limited Liability Partnership is governed by Partnership Act, 1932.

In a LLP, all partners have an unlimited liability.

Executing an LLP Agreement is discretionary.

A LLP is not a body corporate.

It is mandatory for a LLP to have a common seal.