A limited liability partnerships is in law a different person altogether from its partners,comment
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Answer:
limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.
Some LLP examples can include veterinarian's offices, dental offices, auditing firms, law firms, financial advising services, business consultancies and real estate agencies. However, state laws might place restrictions on the types of businesses that use this partnership model.
In a limited partnership (LP), at least one partner has unlimited liability—the general partner(s). The other partners (limited partners) have limited liability, meaning their personal assets typically cannot be used to satisfy business debts and liabilities.
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Explanation:
A limited liability partnership in which some or all partners have limited liability partnership.
It therefore can exhibit elements of partnership and corporations.
In an LLP, each partner is not responsible or liable for another partner misconduct or negligence. This is an important different from. the traditional partnership under the UK partnership Act 1890, in which each partners has joint liability.