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What Is a Share?

A limited lia...

Question

A limited liability partnership is a body corporate with legal personality.

A

Yes

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B

No

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C

Cant say

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D

None of the above

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Solution

The correct option is A Yes
A limited liability partnership is a body corporate and therefore a separate legal entity and an LLP member's liability is limited. However, like a partnership the relationship between the LLP members is governed by private agreement.

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