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What is perpetual succession in an LLP?

• Accounting bizz

  
   

  Tue at 1:58 PM

  An LLP is a perpetual succession, in that it does not come to an end if its partners change. Continuity of business ownership and continuity of the legal entity of the LLP are maintained as a result of the continued existence of the LLP even in the event of a retirement, resignation or death of a Partner.

  An LLP is a perpetual succession, in that it does not come to an end if its partners change. Continuity of business ownership and continuity of the legal entity of the LLP are maintained as a result of the continued existence of the [url=An LLP is a perpetual succession, in that it does not come to an end if its partners change. Continuity of business ownership and continuity of the legal entity of the LLP are maintained as a result of the continued existence of the LLP even in the event of a retirement, resignation or death of a Partner. ]LLP[/url] even in the event of a retirement, resignation or death of a Partner.