Section 27 of LLP Act, 2008 : Section 27: Extent Of Liability Of Limited Liability Partnership

Explanation using Example

Imagine a scenario where John, a partner in the XYZ Limited Liability Partnership (LLP), enters into a contract to purchase expensive office equipment without the authorization of the other partners. According to Section 27(1) of The Limited Liability Partnership Act, 2008, if the seller knew that John did not have the authority to make that purchase on behalf of the LLP, or did not even know that John was a partner, XYZ LLP would not be leg...

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