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    Question

    Who among the following is not qualified to become a partner at LLP?

    A he is of unsound mind Correct Answer Incorrect Answer
    B he is an undischarged insolvent Correct Answer Incorrect Answer
    C he has applied to be adjudicated as an insolvent and his application is pending Correct Answer Incorrect Answer
    D A, B and C. Correct Answer Incorrect Answer

    Solution

    LLP Act Section 5. Partners—Any individual or body corporate may be a partner in a limited liability partnership: Provided that an individual shall not be capable of becoming a partner of a limited liability partnership, if— (a) he has been found to be of unsound mind by a Court of competent jurisdiction and the finding is in force; (b) he is an undischarged insolvent; or (c) he has applied to be adjudicated as an insolvent and his application is pending

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