Section 3 of LLP Act, 2008 : Section 3: Limited Liability Partnership To Be Body Corporate

LLP Act, 2008

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Explanation using Example

Imagine Sarah and Raj start a graphic design business together and decide to form a Limited Liability Partnership (LLP) called "CreativeVisions LLP". According to Section 3(1) of the LLP Act, once they register their LLP, it becomes a separate legal entity from Sarah and Raj. This means that the LLP can own property, enter into contracts, and be sued in its own name.

Five years later, Sarah and Raj are still running "CreativeVisio...

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