Question

which statement does not apply to LLP 2008?
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Answer 1

Answer:

Limited Liability partnership

Answer 2

The liabilities of partners are unlimited: This given statement does not apply to an LLP.

• LLP has its own liability and the limit of its partners' liability is moderate, and LLPs are combined bodies because they are isolated licit authorities having an existence unrelated to their partners.
• It was performed and enacted by the Parliament of India to acquaint and legally authorized the idea of LLP in India. It has the power to make contracts and seize assets.