Question

partnership has limited liability​

Answer 1

Answer:

A limited liability partnership is a partnership in which some or all partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In a LLP, each partner is not responsible or liable for another partner's misconduct or negligence

Answer 2

Explanation:

limited liability partnership is a partnership in which some or all partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In a LLP, each partner is not responsible or liable for another partner's misconduct or negligence.

EXAMPLE:- Most states require each LLP partner to have a professional license in a chosen field. Therefore, LLPs generally include partnerships among physicians, attorneys, accountants, architects, licensed financial advisers, veterinarians and undertakers. California only allows LLPs for lawyers and accountants.