CA Inter P2 · Chapter 11 · Question 7 of 11
In the absence of any agreement with the other partners, under section 24(1) a partner may cease to be a partner of an LLP by giving a notice in writing to the other partners of not less than:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Thirty days
Explanation
Section 24(1) states that a person may cease to be a partner in accordance with an agreement with the other partners. In the absence of an agreement, he may do so by giving a notice in writing of not less than thirty days to the other partners of his intention to resign. A person also ceases to be a partner on death, dissolution of the LLP, or on being declared of unsound mind or insolvent.
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