18 May 2021
if a partner is liable for any wrongful acts or omission during the course of business or with the authority of llp.. then who is liable ... is it llp or the partner committing the wrongful act or omission is personally liable... and according to which section
19 May 2021
Every partner of an LLP would be, for the purpose of the business of the LLP, an agent of the LLP but not of the other partners. Liability of partners shall be limited except in case of unauthorized acts, fraud and negligence. But a partner shall not be personally liable for the wrongful acts or omission of any other partner. An obligation of the limited liability partnership whether arising in contract or otherwise, is solely the obligation of the limited liability partnership. The liabilities of LLP shall be met out of the property of the LLP.
19 May 2021
sir what i mean to ask is for eg.. if I do any omission during course of business, then who will be liable ....me(the partner),, or the llp or both partner and llp
19 May 2021
Sir can u please explain subsection 2 of section 28 which say that The provisions of sub-section (3) of section 27 and sub-section (1) of this section shall not affect the personal liability of a partner for his own wrongful act or omission, but a partner shall not be personally liable for the wrongful act or omission of any other partner of the limited liability partnership.
20 May 2021
Sir what does this means The provisions of sub-section (3) of section 27 and sub-section (1) of this section shall not affect the personal liability of a partner for his own wrongful act or omission
21 May 2021
In short sir what would you say in respect of liability if partners in case of wrongful act and omission if made intentionally and unintentionally
21 May 2021
In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence. Only the concerned partner is liable for his misconduct and negligence.
31 May 2021
case-1 sir if a partner unintentionally do wrongful act or omission during the course of business or with authority,who will be liable, the partner only, the llp only or the llp will be laible to outsiders and partner will be required to indemnify the llp
case-2 if intentionally partner do wrongful act or omission in the course of business or with its authority, who will be liable, the partner only, the llp only or the llp will be laible to outsider and partner will indemnify the llp
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