LLP
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2011
act provides tht on cessation of partner he will be liable for liabilities arise during his period.
wht does this mean?pls explain giving example
wht does this mean?pls explain giving example
udit sharma
(Expert)
22 January 2011
This means that when a partner exits from the LLP, he will liable for all the liabilities arising out of the acts done by the LLP during the period when he was a Partner.
Regards
CS Udit Sharma
Regards
CS Udit Sharma
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