Explain the concept of Limited Liability Partnership .(6 marks)

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Explain the concept of Limited Liability Partnership .(6 marks)

Sanjok Gurung 25th May, 2019

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Shubham singla 25th May, 2019

Hi!

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.

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