Partner ship deedth
Ravi
(Querist) 13 August 2014
This query is : Resolved
I have a doubt in Partnership Deed. In Partnership Deed Calauses the Liability clause we entered it as per Act the Liability is Unlimited. Are we able to modify that clause in partnership Deed as Limited (i.e as per in companies act the Liability of the company is upto the subscribed share capital of the company) in the same way in partnership deed we put a clause stating that the liability of the firm is limited upto the assets of the partners
Y V Vishweshwar Rao
(Expert) 13 August 2014
L L P-Limited Liability Partnership may be suitable for this purpose.
Rajendra K Goyal
(Expert) 13 August 2014
Proceed for LLP (Limited Liability Partnership)
Ravi
(Querist) 13 August 2014
Thanks for your support "LLP" is OK i'm not denying that is there any possibility to modify the clause in my Partnership Deed as per Partnership Act, 1932. That means we know that in Companies act one section is there to override memorandum and articles (Section 9 under Companies Act, 1956) like that provision or section is there in this Partnership Act
