Economics · Limited Liability Partnership Act
Under the Limited Liability Partnership Act, 2008, a partner's personal liability arises only for:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The entire accumulated losses of the firm upon liquidation.
- 2His own wrongful acts or omissions in the course of business.✓
- 3The general financial debts and liabilities incurred by the LLP.
- 4The wrongful acts or omissions of other partners of the firm.
Correct answer
His own wrongful acts or omissions in the course of business.
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