CA Inter P2 · Chapter 11 · Question 4 of 11
Under section 5, which of the following is NOT capable of becoming a partner of an LLP?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) An individual who has been found to be of unsound mind by a court of competent jurisdiction
Explanation
Section 5 allows any individual or body corporate to be a partner. An individual is not capable if found by a competent court to be of unsound mind, is an undischarged insolvent, or has applied to be adjudicated insolvent and the application is pending. Companies and LLPs are bodies corporate, and residence is not a condition for being a partner.
More The Limited Liability Partnership Act, 2008 MCQs
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