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    Question

    Which of the following features  is not found in an

    LLP?
    A A body corporate Correct Answer Incorrect Answer
    B Perpetual succession. Correct Answer Incorrect Answer
    C Legal entity separate from its partners. Correct Answer Incorrect Answer
    D Change in partners of LLP shall not affect rights of LLP. Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    LLP Act  S. 3. Limited liability partnership to be body corporate.—(1) A limited liability partnership is a body corporate formed and incorporated under this Act and is a legal entity separate from that of its partners.  (2) A limited liability partnership shall have perpetual succession. (3) Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership.

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